HSBC begins payouts to firms whose accounts it froze
08 Sep 2017

HSBC has offered compensation to at least two of the small British businesses caught up unintentionally in a crackdown on illicit money, seeking to limit the damage from an operation that has been criticized by lawmakers and industry.

Reuters reported on Aug. 24 that HSBC had closed or frozen the accounts of dozens of apparently innocent small businesses in the crackdown.

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