A religious charity organization is the latest HSBC client to have its account frozen in Hong Kong, following similar moves on now exiled activist Ted Hui which have received growing backlash.
The «Good Neighborhood North District Church» claimed yesterday that its HSBC bank account – alongside those of pastor Roy Chan and his wife – had been frozen, according to an open letter to HSBC demanding reversal and a reason for the move.
The group claimed it is a legal, tax-exempt charity organization and described the freeze as an «act of political retaliation.» It cites one of its groups, made of mainly elderly and middle-aged volunteers, and their «humanitarian support» for protestors as the driver behind the decision.
The frozen accounts will affect its charity work, including accommodation services for the homeless which were affected by the coronavirus pandemic, it added.
«Bottom Line of Asset Protection»
The letter also cited the freezing of exiled activists Ted Hui and his family member’s accounts, saying that such incidents «severely eradicated dissent in Hong Kong, suppressing freedom among religions and community service workers».
«HSBC is undoubtedly exploiting the well-established independent financial system and sabotaging the benefits of individuals and groups of Hong Kong, as well as foreign investors within the territory,» it said.
«Hongkongers will demonstrate their determination in saying 'no' to injustice with what they own in hand.»
«This is Not a Bank That Started in China»
Talk about political activities at the bank are once again entering the spotlight with British politicians addressing the issue publicly.
«I ask my honorable friends and the government to condemn this action because this is not a bank that has started in China, based in China and has nothing to do with the U.K.,» said conservative British parliamentarian Iain Duncan Smith, claiming that HSBC had been «obviously prompted» by the Hong Kong government and China.
«This is a bank that benefits from its location here in London; is highly thought of amongst the trading community; and behaves in this disreputable and appalling way to freeze accounts on an individual fleeing for justice. Surely, that's an outrage the government can now say should stop.»
Freeze, Unfreeze, Re-Freeze
Hui, who has now reportedly gone on exile in the U.K., continues to face more problems with his and his family members’ accounts. After first allegedly being frozen without explanation on Sunday, the accounts were suddenly unfrozen hours after local police issued a statement that it was probing the fugitive dissident over national security law and money laundering violations.
Then on Monday, Hui’s accounts were frozen again. He reportedly claimed to have already shifted his assets elsewhere due to «complete distrust» of the British lender.
«I call on local and international financial regulatory agencies in Hong Kong to conduct thorough investigations into the incident and severely punish law enforcement officers and bank managers who abuse their power,» he added.
