HSBC UK recompenses small firms wrongly accused of money laundering

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After recent events, HSBC UK have been getting bad press after freezing funds for approximately 100 small UK firms who were caught up in false charges cases and had their bank accounts shut down. The mistake resulted in some cases of businesses funds being frozen, a move condemned by many industry lawmakers. At least two of the firms so far have received compensation for the slip-up.

Software Developer Richard Davey drew widespread attention on social media this week with an article detailing his distress after HSBC fixed all funds in the bank account of his company.