My Take | Blame Washington not Beijing for problems opening a bank account
Political agitators like artist Ai Weiwei complain about difficulties when trying to open an account at HSBC, but the bank is simply following American rules
What do Ai Weiwei, Joshua Wong Chi-fung and Agnes Chow Ting have in common? It’s funny how political agitators like to round on poor HSBC and claim persecution when they can’t open a bank account in Hong Kong.
But really, it’s not Beijing you guys should complain about, but the United States – you know, your beloved country that you run to for free publicity and red-carpet treatment. The British-Hong Kong bank has been making it difficult for everyone – people and companies – to open new accounts. But no, it has nothing to do with political pressure from Beijing. It’s the result of worldwide compliance standards imposed by regulators in New York and Washington.