Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Safeguarding HSBC against Zupta

Paul Hodgson | December 26, 2017

Back in September, I received the first of four requests for proof of identity from HSBC, a bank I’ve had an account with for 40 years. It seemed a little unnecessary, so I did not immediately put together the set of documents needed to prove to the bank that I was who it thought I was—certified copies of passports, utility bills from the last three months, and all the other information that I was now required to submit under HSBC Safeguard.

Then, because I had consistently ignored requests, my debit card daily withdrawal limit was reduced to £50 a day.

It’s a shame the same kinds of sanctions were not placed on accounts held by the Guptas, the family at the centre of a major corruption investigation in South Africa because of their ties to and influence over the former president, Jacob Zuma. The scandal has come to be known as...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.