HSBC among Hong Kong banks that close accounts tied to opposition group, members say
- Four core League of Social Democrats members have personal accounts at several banks closed, as well as three business accounts at HSBC
- ‘Intimidation has reached everyone, and that has reached the personal lives of activists,’ league vice-chairman says
Several banks in Hong Kong, including HSBC, have terminated the personal accounts of four core members of an opposition political party and the organisation’s accounts without warning, members have said.
Dickson Chau Ka-faat, a vice-chairman of the League of Social Democrats, told the Post on Friday the party had demanded an explanation from HSBC after a termination notice for the group’s three accounts was issued, but with no reason given.
“We can only say we are quite helpless. Does that mean political organisations of certain backgrounds cannot use bank accounts? This poses great inconvenience to citizens. What message is the government trying to send?” Chau said.
A representative for HSBC’s commercial banking customer service department defended its decision to close the party’s accounts in a letter dated May 17 sent to the league’s chairwoman Chan Po-ying and seen by the Post.
“[W]e hope that your company would understand that the bank has carefully considered various factors and conducted detailed assessments before making the relevant decision,” the letter said.
