HSBC strengthens safe deposit rules in Hong Kong

The bank has introduced several clauses to the conditions of lease for its safe-deposit lockers. Customers were requested not to deposit any property which could become ‘a nuisance’ or of an illegal or ‘offensive nature,’ including explosive, inflammable or liquid items, weapons, guns and stolen property.

HSBC did not provide details on how the bank would police the new rules or any penalties for box holders who broke them.

HSBC bank is among global financial institutions that have been grappling with investigations into money laundering and tax evasion around the world. The bank’s total expenditure on regulatory programs and compliance rose 19% in the first quarter to USD 700 million, according to an earnings statement released by HSBC.