Our people play an important role in the fight against financial crime. We have built a dedicated team of financial crime specialists and equip our employees to speak up when something does not look right.
Our team of specialists has been significantly strengthened over recent years. Our dedicated Risk and Compliance function, led by senior experienced personnel, brings together all areas of financial crime risk management within the bank.
The function’s specialist areas include capabilities that leverage intelligence, investigations, analytics, technology and public-private partnerships so we stay one step ahead of the criminals.
The Group Risk Committee has oversight of matters relating to financial crime for the organisation.
We have invested significant amounts of time and money to make sure our employees are properly equipped to combat financial crime. As a minimum requirement, all HSBC employees must complete mandatory on-line learning in areas such as sanctions and anti-money laundering every year, with individuals in higher risk roles receiving targeted training specific to their role.
We are also integrating day-to-day risk management practices that support our commitment to protecting the integrity of the financial system.
In addition, we are strengthening our defences against fraud. The global fraud landscape is characterised by increasingly sophisticated attacks targeting online banking and other digital services. Under our multi-year fraud transformation programme, we are investing in training our people, as well as enhancing our technology-based defences.