Hong Kong clients can pick banks with varying compliance rules
12 Apr 2017

Customers of some of the city’s biggest lenders risk having their accounts suspended if they fail to fully disclose all the relevant information, under tighter money-laundering laws being introduced by the end of March next year.

The levels of current scrutiny, however, still vary widely across the sector, with HSBC so far the toughest and most aggressive to introduce standard conditions for all, while others such as Bank of China (Hong Kong) continue to adopt a case-by-case approach.

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