Accuracy versus truth (duration 7:06) HSBC's Noel Quinn meets a reformed criminal to find out about the techniques used by fraudsters to mislead banks and investors. This video is part of a series designed to educate HSBC employees about the risks of financial crime.

Expertise

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 Compliance function, led by senior experienced personnel, brings together all areas of financial crime risk management within the bank.

The function’s eight specialist areas include a Financial Crime Threat Mitigation capability to 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 2017, for example, we began a three-year programme to advance the Group’s anti-bribery and corruption risk management capability. We have strengthened our controls and processes, and improved our global register for associated persons. The programme is now focused on enhancing our global gifts and entertainments register, which provides a consistent way to record, notify, approve and monitor gifts and entertainment.

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, launched in 2018, we are investing in training our people, as well as enhancing our technology-based defences.

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