The city’s largest bank, HSBC is seen to impose the toughest customer conditions, following its US$1.9 billion penalty in 2012 for breaching American money-laundering rules, while its next door neighbour Standard Chartered said it could still not give definitive details on its planned measures, only that it updates client information on a regular basis. Photo: Bloomberg

Hong Kong clients can pick banks with varying compliance rules

Bank clients face account suspension if they fail to disclose information

Topic |   Hong Kong Monetary Authority (HKMA)

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The city’s largest bank, HSBC is seen to impose the toughest customer conditions, following its US$1.9 billion penalty in 2012 for breaching American money-laundering rules, while its next door neighbour Standard Chartered said it could still not give definitive details on its planned measures, only that it updates client information on a regular basis. Photo: Bloomberg
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