HSBC is targeting MPs with data requests after categorising them as 'politically exposed persons', and may close accounts if they don't comply

HSBC has targeted MPs with demands for sensitive private information as part of a crackdown by the bank on "politically exposed" customers. The move has left some feeling they will lose their banking facilities unless they comply. A Labour MP who is a longstanding customer of HSBC contacted Guardian Money to say he had been asked by the bank to disclose information about his finances, including accounts he has with other banks, and his "sources of wealth". At first he thought it may be a "phishing" scam, where fraudsters try to obtain people's private details by masquerading as their bank or an official body, but the letter was genuine, and was followed up earlier this month by a phone call. The MP, who declined to be named, says he explained to the bank that the information being sought was "inappropriate", and when he asked what would happen if he didn't co-operate, the suggestion was that his account may be closed.....Read more HERE