Global banks are scanning clients in Hong Kong on potential political ties amid protests over China-initiated national security law.
Major international banks like Credit Suisse and HSBC are reportedly scrutinizing their Hong Kong clients amid the ongoing protests over China-backed national security law.
According to a July 19 report by Reuters, global banks including Credit Suisse, HSBC, Julius Baer, and UBS are now screening their clients in Hong Kong on potential ties to the city’s pro-democracy movement.
Social media spies
Citing a group of anonymous people familiar with the matter, the report says that the banks are scanning clients’ records for political and government ties in order to impose additional diligence requirements.