A world group of senior politicians have written to the chairman of HSBC, Mark Tucker, urging him unfreeze financial institution accounts linked to a high-profile pro-democracy activist from Hong Kong.
Greater than 50 members of the Inter-Parliamentary Alliance on China – together with representatives from the UK, Canada, Australia, France, Germany and Switzerland – are calling for the quick launch of funds belonging to Ted Hui and his household, and a proper clarification of HSBC’s determination to freeze their accounts.
The letter, which was first reported within the Occasions on Monday and is signed by politicians from 16 international locations, together with the previous Tory chief Iain Duncan Smith, asks HSBC to publicly decide to defending the accounts of consumers who’re dealing with “politically motivated costs issued by the Chinese language and Hong Kong authorities”.
It heaps strain on HSBC, which has come below fireplace for backing China’s controversial safety legislation in Hong Kong, and subsequently freezing the accounts of pro-democracy protesters reminiscent of Hui who critics say are the actual goal of China’s crackdown.
Hui – a veteran activist and former member of the Hong Kong legislative council – fled to Britain late final yr. HSBC froze his accounts in early December, shortly after Hong Kong police accused him of misappropriating funds and cash laundering. Regardless of a quick reversal, HSBC accounts held by Hui and his household are nonetheless frozen.
The letter mentioned the freezing of the accounts was “detrimental not solely to Hui and his household’s wellbeing but additionally gravely tarnish HSBC’s popularity as a socially accountable enterprise working below the rule of legislation. These actions undermine the open societies and free economies that underpin HSBC’s success.”
HSBC refused to touch upon Hui’s case, however emphasised that it was not able to query requests from native police. “Like each financial institution, now we have to function throughout the legislation and authorized frameworks of all of the international locations by which we function,” it mentioned.
“After we get a particular authorized instruction by police authorities in Hong Kong, or anyplace else, to freeze the accounts of any individual below formal investigation, now we have no alternative however to conform. Disobeying such an order could be a legal offence.”