HSBC Bank Closing Accounts of Vatican, Embassies and other Diplomatic Accounts

‘Havoc’ as HSBC prepares to close diplomatic accounts

HSBC bank sign The honorary consul of Benin said his mission had been having trouble finding a new bank
HSBC bank has reportedly asked more than 40 diplomatic missions to close their accounts as part of a programme to reduce business risks.

The Vatican’s ambassadorial office in Britain, the Apostolic Nunciature, is among those said to be affected.

The head of the UK’s Consular Corps told the Mail on Sunday the decision has created “havoc”.
The Foreign Office has been in touch with HSBC, stepping in to help diplomats open other bank accounts.

HSBC said embassies were subject to the same assessments as its other business customers. They need to satisfy five criteria – international connectivity, economic development, profitability, cost efficiency and liquidity.

A spokesman said: “HSBC has been applying a rolling programme of “five filter” assessments to all its businesses since May 2011, and our services for embassies are no exception.

“We do not comment on individual customer relationships.”

The Mail on Sunday reported that the High Commission of Papua New Guinea and the Honorary Consulate of Benin have also been asked to move their accounts within 60 days.

Bernard Silver, head of the Consular Corps, which represents consuls in the UK, told the paper: “HSBC’s decision has created havoc.

“Embassies and consulates desperately need a bank, not just to take in money for visas and passports but to pay staff wages, rent bills, even the congestion charge.”

John Belavu, minister at the Papua New Guinea High Commission, said: “We’ve been banking with HSBC for 22 years and for them to throw us off in this way was a bombshell.”

Lawrence Landau, honorary consul of Benin, told the paper his mission had been having trouble finding a new bank.

He said: “We have been trying everyone but all the UK banks are clamming up.”
Suspicious accounts
 
Embassies are treated like business customers by banks as they generally use services like cash and payroll management and can take out loans.

They also have to pay for ambassadorial accommodation and costs such as school fees for the children of diplomats – expenses that are difficult to meet without a valid UK bank account.

They are sometimes considered to be at risk of money laundering activities because of their political exposure and banks have been warned in the past for failing to flag up suspicious accounts.

The Riggs National Bank in Washington was fined and later sold off after a 2004 US Senate report revealed executives in its embassy business had helped Chilean dictator Augusto Pinochet hide millions of dollars.

HSBC was fined $1.92bn (£1.26bn) by US authorities last year after it was blamed for alleged money laundering activities said to have been conducted through its Latin American operations by drug cartels.

The bank admitted at the time that it had failed to effectively counter money laundering.

http://www.bbc.co.uk/news/uk-23565506

18 thoughts on “HSBC Bank Closing Accounts of Vatican, Embassies and other Diplomatic Accounts

  1. Hmmmm….this is interesting, but we need extensive proof. If we get proof, it will be the first sign ever that something good is actually happening.http://nesaranews.blogspot.com/2013/08/the-bankster-walls-are-crumbling-hsbc.html#comment-formThe Bankster Walls Are Crumbling! HSBC eTc.JUST REC.News out of HSBC that their fraudulent and corrupt operation is shutting the doors on it's co-conspirators has sent the "conspiracy nuts" out in the streets (on line) to yell…"I TOLD YOU SO"!!!Consulates and the Vatican in Chaos as HSBC tells them to Find Another Bank"Diplomats in London have been thrown into chaos after Britain's biggest bank,HSBC, sacked them as customers and gave them 60 days to move their accounts.""Their situation has been made far worse because other banks have been closing ranksand refusing to take their business." "More than 40 embassies, consulates and High Commissions have been affected. Even the Vatican has been given its marching orders."ENDThe "signs" are everywhere my friends…the Banksters are going DOWN!Your job is to understand just what that means to our Global Fiat Monetary System and how you can protect yourself from the chaos.Hint…PHYSICAL SILVER IN YOUR OWN POSSESSION!Was that a big enough hint?!May the Road you choose be the Right Road.Bix Weirwww.RoadtoRoota.com

  2. Whatever it means, at least things are starting to move faster. I hope Bix Weir is correct. He is big on silver, at least silver is "safer" than dinars. Of course if things go better than Bix says, the sheeple who are broke should be taken care of by the good guys and not be left behind to fend for themselves.

  3. Did Ken also warn you about his meager and damaged IQ?That would balance out his Fear Porn "warning" — showing thoseDNA mangling MUSHROOM CLOUDS.WAR has become fully ILLEGAL on Earth at this time. ANYONE attempting war will become global road kill instantly.Ken happens to be an idiot who attacks FAR FAR smarter and vastlymore important people than himself.It's not uncommon for weak or stupid people do do this.Ken's essential existing nature is dense confusion.He will fade away.

  4. This is happening fast.1) Global DE-funding of evil manipulators.2) Massive FUNDING of good people.Guess WHO gets to rebuild our world — WE do.THAT is what the *funding* is FOR.

  5. The old evil system is DYING fast. – Massive GLOBAL de-funding of evil manipulators. – Massive FUNDING of real PEOPLE to facilitate REBUILDING.Simple plan, beyond wild to carry out. In progress.

  6. Hint: – GOLD – SILVER – Dinar – Dong – RupiahDinar, Dong, Rupiah = *Make* or *establish* a fortune (ENERGY).Gold Silver = *Preserve* (and grow) a fortune.Why = Rebuilding of Earth culture.

  7. They are simply trying to shut down the power base of other nation states. Basel III was enacted July 2 2013 and this is the time for them to attempt full world control.Its that simple ~ HSBC has more money then anyone can shake a stick at. It has nothing to do with silver, gold, foreign currencies etc.Its simple Black Mail by the Mr Big with the BOE supporting them.

  8. To Barbie Doll @4:43 please STFU about your hero Ken. How many *alerts* has he posted and how many have been correct?Going by the number of times you post your defeatist language it looks like you are a shill. Either bring some balance to your comments or just BEAT IT!Things have been happening behind the scenes and now they are gradually seeping out into the open. In the UK several msm reporters are also beginning to out the cabal. Like everything else, it takes time so as not to scare the sleeping sheople. But its happening and more and more are waking up. Believe it!!

  9. It means the bad guys are losing their places to hide so that's a good thing. The new Financial Conduct Authority has told the banks to clean up their acts or else and that's what the banks are doing. There's a long way to go. The predecessor FSA outed LIBOR scandal and chucked Bob Diamond and a few others under the bus and the Serious Fraud Office are now working on prosecutions. UK has some honest people working diligently in the back-ground just like the US has. The ride might get a little bumpy but just hang in there and watch.

  10. 1:50 – I read 'Richard' earlier. There was no nuke attack in May – that came from a British insider @ Canauzzie.blogspot.com a while ago. And Richard said Quote – This recent blast and the blast on May 5th are not that similar. (note the word NOT!)Richard said again Quote – I'm not sure what this blast was as it likely was not as it's being framed however the mushroom cloud itself DOES NOT AUTOMATICALLY MEAN NUCLEAR. (Caps emphasis is mine)If you want to know what's going on behind the scenes check out comments by Canauzzie, Neo, Get Real, Palladin, Saturnalia and even 'john'. But stop thrashing around like your hair is on fire – you'll wear yourself out!

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