SYDNEY—Australia’s corporate watchdog is suing the local unit of HSBC HSBA-1.34%decrease; red down pointing triangle Holdings over allegations that the bank failed to protect customers from ...

Some lessons come with a price. The recent lawsuit against HSBC by the Australian Securities and Investments Commission ...

HSBC Australia took an average of 145 days to investigate scam reports and 95 days to restore full access to customer accounts. In one extreme case, a customer reportedly waited 542 days for the ...

(RTTNews) - Australia's markets regulator sued the Australian unit of British lending major HSBC Holdings Plc for allegedly failing to adequately protect customers from scams.

ASIC added that between January 2020 and August 2024, HSBC Australia received those reports of the transactions, resulting in customer losses of about A$23 million ($14.61 million).

HSBC Holdings Plc is studying options for its consumer banking business in Australia including a potential sale as the bank looks to further slim down its operations, according to people with ...

HSBC is a small player in Australia’s banking sector, but data suggests its customers have been heavily targeted by fraudsters. Those who have lost life savings wish the bank had done more.

HSBC Australia is considering the allegations while investing significantly in fraud and scam prevention, a bank spokesperson said. Write to Stuart Condie at [email protected].