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HSBC going down...withdraw all your money!
- Thread starter BuiKia
- Start date
Good job ! HSBC is learning from SG government n their way of managing our CPF
The moral of the story is, nowadays, if you have a lot of money....do not, I repeat, deposit that in your bank account. Keep that money at home...SAFE....the bank will ask you, where you get the money from! & thereafter report you have so much money to M.A.S. who then inform 'her' cousin, Auntie IRAS...& Auntie will tell you, that, they last ten years you had been under declaring your taxes..
So, keep money at home...CPF money is not ours to take anymore, unless SINgaporeans start getting drunk & do what the Ah nehs do...we will not see out money sooner..later, later & later...Looooonnnnnngggg term!!
I hope you have a good lawyer as trying to create a run on a bank is a very serious crime.
what kind of logic is that?
It is their own money, why can't they withdraw it. There is no need to give any reason or whatsoever. They can ask for id card or bank verification. no need for reason.
i can tell them i like to withdraw $1 million, in $50 denomination, just to wipe my ass every morning. For hell they care???
It is their own money, why can't they withdraw it. There is no need to give any reason or whatsoever. They can ask for id card or bank verification. no need for reason.
i can tell them i like to withdraw $1 million, in $50 denomination, just to wipe my ass every morning. For hell they care???
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The moral of the story is, nowadays, if you have a lot of money....do not, I repeat, deposit that in your bank account. Keep that money at home...SAFE....the bank will ask you, where you get the money from! & thereafter report you have so much money to M.A.S. who then inform 'her' cousin, Auntie IRAS...& Auntie will tell you, that, they last ten years you had been under declaring your taxes..
So, keep money at home...CPF money is not ours to take anymore, unless SINgaporeans start getting drunk & do what the Ah nehs do...we will not see out money sooner..later, later & later...Looooonnnnnngggg term!!
put in oversea bank lah...malaysia, thai, australia..so easy..Keep at home??? you must be a poor fuck...
When there was the financial crisis I was told that when some foreigners tried to withdraw their $$$ from DBS they were told "NO". It was the time when Spore had to guarantee everyones savings in Spore or else face the prospect of a run on the banks.
I remember confidence on the banking system was very low & even I had concerns of a collapse:o
Siao...news is from another source and many are saying same thing.
http://www.bbc.co.uk/news/business-25861717
http://www.maxkeiser.com/2014/01/hs...collapse-second-major-banking-crash-imminent/
http://www.zerohedge.com/news/2014-...ontinue-hsbc-restricts-large-cash-withdrawals
http://www.bbc.co.uk/news/business-25861717
http://www.maxkeiser.com/2014/01/hs...collapse-second-major-banking-crash-imminent/
http://www.zerohedge.com/news/2014-...ontinue-hsbc-restricts-large-cash-withdrawals
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Doesn't make any difference. If you propagate the rumors, you're criminally liable too.
you rumour mongers! it is not something to do with the stability of the bank, it's a little problem within the UK.
http://dealbook.nytimes.com/2014/01...-issue-in-britain/?_php=true&_type=blogs&_r=0
HSBC Apologizes After Cash Withdrawal Issue in Britain
LONDON – The British bank HSBC has apologized after reports that some customers were prevented from withdrawing large sums of cash from their accounts.
HSBC said that, as part of a policy change put into effect in November, it began asking customers in some instances to show evidence of what they planned to do with large cash withdrawals.
“It is not mandatory for customers to provide documentary evidence for large cash withdrawals, and on its own, failure to show evidence is not a reason to refuse a withdrawal,” the bank said in a statement. “We apologize to any customer who has been given incorrect information and inconvenienced.”
The British Broadcasting Corporation’s Radio 4 reported on its “Money Box” program on Saturday that some customers were not allowed to withdraw amounts above 5,000 pounds in cash, or about $8,253.
The policy change was part of the bank’s efforts to comply with regulations to fight money laundering, which require banks to report suspicious behavior, such as withdrawing large amounts of cash.
For example, banks operating in the United States are required to report cash transactions above $10,000 to the government, as well as transactions that occur under dubious circumstances.
“Cash presents more risk, and in particular financial crime risk, than other payment methods. It also leaves customers with very little protection if things go wrong,” the bank said.
“Therefore, we need to monitor particularly closely movements of cash in and out of the banking system. This is why we ask our customers about the purpose of large cash withdrawals when they are unusual and out of keeping with the normal running of their account.”
Two years ago, HSBC agreed to pay a record $1.9 billion to settle charges by authorities in the United States that the bank had lax controls against money laundering and allowed hundred of millions of dollars of suspicious transactions by customers in Mexico and other nations, including drug proceeds.
As part of the settlement, the bank pleaded guilty to violating several laws in the United States, including the Bank Secrecy Act, but avoided criminal prosecution.
“Asking the right questions, protecting our customers and reducing the risk of money laundering, fraud and other crimes, means we are doing the right thing and fulfilling our responsibilities as a bank and to society at large,” the bank said.
http://dealbook.nytimes.com/2014/01...-issue-in-britain/?_php=true&_type=blogs&_r=0
HSBC Apologizes After Cash Withdrawal Issue in Britain
LONDON – The British bank HSBC has apologized after reports that some customers were prevented from withdrawing large sums of cash from their accounts.
HSBC said that, as part of a policy change put into effect in November, it began asking customers in some instances to show evidence of what they planned to do with large cash withdrawals.
“It is not mandatory for customers to provide documentary evidence for large cash withdrawals, and on its own, failure to show evidence is not a reason to refuse a withdrawal,” the bank said in a statement. “We apologize to any customer who has been given incorrect information and inconvenienced.”
The British Broadcasting Corporation’s Radio 4 reported on its “Money Box” program on Saturday that some customers were not allowed to withdraw amounts above 5,000 pounds in cash, or about $8,253.
The policy change was part of the bank’s efforts to comply with regulations to fight money laundering, which require banks to report suspicious behavior, such as withdrawing large amounts of cash.
For example, banks operating in the United States are required to report cash transactions above $10,000 to the government, as well as transactions that occur under dubious circumstances.
“Cash presents more risk, and in particular financial crime risk, than other payment methods. It also leaves customers with very little protection if things go wrong,” the bank said.
“Therefore, we need to monitor particularly closely movements of cash in and out of the banking system. This is why we ask our customers about the purpose of large cash withdrawals when they are unusual and out of keeping with the normal running of their account.”
Two years ago, HSBC agreed to pay a record $1.9 billion to settle charges by authorities in the United States that the bank had lax controls against money laundering and allowed hundred of millions of dollars of suspicious transactions by customers in Mexico and other nations, including drug proceeds.
As part of the settlement, the bank pleaded guilty to violating several laws in the United States, including the Bank Secrecy Act, but avoided criminal prosecution.
“Asking the right questions, protecting our customers and reducing the risk of money laundering, fraud and other crimes, means we are doing the right thing and fulfilling our responsibilities as a bank and to society at large,” the bank said.
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Which bank will admit that it is in trouble? This statement is just PR and they hope that the bank customers will buy it.
If HSBC doesn't lift the restriction, a run can be expected.
If HSBC doesn't lift the restriction, a run can be expected.
BuiKia..I heng ah, my post is with a "?" means I am asking "Is it true ?"..not a offence.
You jialat liao...your statement is a chargeable offence
No money in HSBC so no problem.
Maybe you are correct $10k pound is small amount. Why bank not allow????
If $100k pound that maybe is ok for bank to ask.
HSBC: The World's Dirtiest Bank
http://deanhenderson.wordpress.com/2013/09/14/the-worlds-dirtiest-bank-hsbc/
HSBC, just like Citibank, had funded drug trade and other dirty dealings.
http://deanhenderson.wordpress.com/2013/09/14/the-worlds-dirtiest-bank-hsbc/
HSBC, just like Citibank, had funded drug trade and other dirty dealings.
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