HSBC Bank plc

Financial Ombudsman decision DRN6080720 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Mon Mar 02deadline to accept (not the decision date)

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Account closed or refused, Service failure

In the Ombudsman’s words

HSBC did not accept that it should have noticed and reported the fraudulent transfers made from K’s account. It agreed that it had inadvertently delayed acting on instructions to close K’s account for some five weeksAccount closed or refused

K complains that HSBC Bank plc failed to exercise sufficient monitoring and supervision in the operation of its account, enabling fraudulent transactions to continue undetected for a significant period of time.Service failure

Rules cited

Money Laundering Regulations 2017

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN6080720.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.