Did HSBC Open A Fake Bank Account in Your Name?

Did HSBC Open A Fake Bank Account in Your Name?

We all know by now that Wells Fargo opened lots of accounts for people without their knowledge. But they weren’t the only ones to do so. Other banks have also opened accounts for customers without them knowing, but at a smaller scale. That has prompted further investigation about whether or not fake HSBC bank account opening practices were encouraged by bank management.

Federal regulators have identified that employees at other banking institutions are engaged in similar behavior to what we saw at Wells Fargo. But it is possible that fake bank account opening practices could have been used by employees at HSBC.

Fake bank and credit card accounts could be used to meet sales quotas or to pad the sales numbers for banking institutions. If you suspects that a fake HSBC bank account might have been opened in your name, collect any necessary evidence and bring it to the bank’s attention. It could also be connected to further instances of identity theft and fraud, which should be taken seriously by anyone who might have fallen victim to these practices by any bank, not just HSBC.

It’s always a good idea to keep an eye on your credit reports from the three major bureaus and also ChexSystems, which keeps track, and a score for your bank accounts. That way, you can find out quickly whether accounts have been opened in your names without your knowledge.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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