‘Bullying’ HSBC cancels account of Suffolk carpet shop after 25 years ‘following purchase from Iranian businessman’

‘Bullying’ HSBC cancels account of Suffolk carpet shop after 25 years ‘following purchase from Iranian businessman’

‘HSBC has been accused of bullying by a carpet shop who claims the bank cancelled their 25-year business account because they have the word ‘Persian’ in their name.
The bank told the owners of Persian Carpet Studio, based in Sudbury, Suffolk, that they had a month to find a new bank as their business account was being terminated – without any explanation.
The carpet business’ secretary, Graham Barber, believes the decision was a result of new money- laundering and anti-terror legislation, which has left banks terrified of providing services to those it deems as risky.’
Read more: 'Bullying' HSBC cancels account of Suffolk carpet shop after 25 years 'following purchase from Iranian businessman'

HSBC: The World’s Dirtiest Bank

‘In July 2011, First Niagara Financial Group announced that it would buy 195 retail bank branches in New York and Connecticut from HSBC for around $1 billion. [1]  HSBC had acquired the branches when it bought the spooky Marine Midland in 1980.  According to Global Finance, the UK-headquartered HSBC Holdings is the world’s 3rd largest bank with $2.36 trillion in assets. [2]  Formerly known as Hong Kong Shanghai Bank Corporation, HSBC has served as the world’s #1 drug money laundry since its inception as a repository for British Crown opium proceeds accrued during the Chinese Opium Wars.  During the Vietnam War HSBC laundered CIA heroin proceeds.’
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