HSBC

Press Release: Panama Papers: HSBC lobbies for Syria’s poster boy of corruption, then closes accounts of ordinary Syrian nationals

Friday, 08/04/2016

We issued a press release on 8 April in light of recent findings of the Panama Papers pertaining to Syria. These papers reveal that HSBC, which has long been accused of arbitrarily closing the bank accounts of Syrian nationals, lobbied to maintain the Swiss bank accounts of Syria’s icon of corruption, Rami Makhlouf, after he had been sanctioned by both the US and the EU.

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HSBC shuts accounts of Syrians in UK after 'lobbying' for Assad's cousin

Friday, 08/04/2016

An article in the Middle East Eye on 8 April draws a link between Rethink Rebuild Society's bank campaign and recent revelations of the Panama papers. Rethink Rebuild Society initiated a campaign in 2014 to expose discriminatory practices of banks against Syrian individuals and organisations. HSBC was one of the main targets of this campaign.

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Inquiry into Closure of Syrian Bank Accounts will be Hit by General Election

Monday, 16/02/2015
Inquiry into Closure of Syrian Bank Accounts will be Hit by General Election

RR was approached in early January by Parliament's Treasury Committee to provide evidence of Syrians' negative experience with banks. However, as seen in this press release,we have declined to engage with the Committee's request because it has declined to explain to us how our evidence will be used or how the investigation will proceed.

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HSBC Helps Wealthy Evade Taxes but Discriminates against Vulnerable Communities in the Name of 'Risk Assessment'

Tuesday, 10/02/2015
HSBC Helps Wealthy Evade Taxes but Discriminates against Vulnerable Communities in the Name of 'Risk Assessment'

In light of HSBC's most recent scandal of helping its wealthiest customers evade their tax obligations, we issued this press release to shed light on HSBC's deplorable treatment of its Syrian customers.
Our story was featured in this news article.

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