Is this grounds to move my accounts from HSBC?

[MrsPeacockInTheLibrary]

I have been with HSBC all my life by default - childhood banking etc. I have just seen the FinCEN report on the BBC. It does not look good! Is this grounds to move accounts to another bank in response to their actions? Or it does not matter as it is nothing to do with domestic banking.

I already have a Monzo etc and some other accounts.

It's historic rather than current as far as I can tell, I won't be moving my accounts yet. Will be keeping an eye on things though. Generally they are one of the 'safer' banks as they are so large and international.

You don't need a reason to switch your account to another bank

Are you worried about your money being safe? If so don't, HSBC isn't going anywhere.

Or are you worried about the morality? If so you should have left loooooong ago - look up Swissleaks at the very least.

But as PP said - just swap your bank account! You'll get better service and/or a switching bonus from lots of banks.

I switch my accounts every few years as you usually get a bonus (about £150-£200 each time) and it’s done me no harm.
HSBC- Santander- nationwide- Halifax etc

Switching banks is really straightforward, I will never bank with Barclays due to their practices, so absolutely change for any reason you like!

Thank you for the information. Not security wise, more moral. I know they are all part of the same system anyway. Sounds like I need to do some reading! But the other incentive is a new idea. Will look into it.

Honestly, HSBC are no better or worse than any other bank when it comes to this kind of thing. Money laundering and terrorist financing are endemic in the banking sector and the scale is enormous.