Common use of Financial Crime Risk Management Activity Clause in Contracts

Financial Crime Risk Management Activity. 7.1 The Bank, and members of the HSBC Group, are required to, and may take any action considered appropriate to comply with laws, regulations, sanctions regimes, international guidance, HSBC Group internal policies and procedures, and/ or demands from any Authorities, relating to or in connection with the detection, investigation and prevention of Financial Crime (“Financial Crime Risk Management Activity”). Such action may include, but is not limited to: (a) screening, intercepting and investigating any instruction, communication, drawdown request, application for Services, or any payment sent to or by the Accountholder, or on its behalf; (b) investigating the source of or intended recipient of funds; (c) combining Customer Information with other related information in the possession of the HSBC Group; and/or (d) making further enquiries as to the status of a person or entity, whether they are subject to a sanctions regime, or confirming an Accountholder’s identity and status. 7.2 Exceptionally, the Bank’s undertaking of Financial Crime Risk Management Activity may lead to the Bank delaying, blocking or refusing the making or clearing of any payment, the processing of Accountholder instructions or application for Services or the provision of all or part of the Services. To the extent permissible by law, neither the Bank nor any other member of HSBC Group shall be liable to the Accountholder or any third party in respect of any loss howsoever arising, suffered or incurred by the Accountholder or third party caused in whole or in part in connection with the undertaking of Financial Crime Risk Management Activity.