Former Hong Kong lawmaker rejects HSBC’s explanation for frozen accounts

HONG KONG (Reuters) – Former Hong Kong lawmaker Ted Hui has renewed his criticism of HSBC for freezing its local bank accounts even after World Bank chief executive Noel Quinn wrote to him to explain the circumstances of the change.

Hui, who fled Hong Kong late last year after facing criminal charges for pro-democracy protests in the Asian financial hub, revealed some of the content of Quinn’s post on Sunday in a Facebook message.

“Did HSBC follow professional screening, application, research and assessment procedures?” Hui asked on Facebook about the actions he expected from the bank before freezing the accounts.

“I hold HSBC openly responsible for answering these important questions.”

In Quinn’s letter sent last week, he sought to explain why HSBC was unable to operate bank and credit card accounts and said the bank was legally obliged to take action after notification of the local authorities, Hui wrote.

In December, the former lawmaker said accounts held by him and his family appeared to have been frozen after he said he would seek exile in Britain to continue his pro-democracy activities.

In her Facebook post, Hui asked HSBC to explain why her family members were also “being punished collectively.”

Hui and HSBC did not immediately respond to requests for comment on Monday.

Authorities in the former British colony have launched a massive crackdown on pro-democracy opposition since Beijing imposed a controversial national security law in June.

In August last year, Reuters reported that global banks were examining whether Hong Kong customers had any ties to the pro-democracy movement, in a bid to avoid getting caught up in security laws.