HSBC Throws Out Notorious Mosque As Customer
HSBC Bank has thrown out the notorious Finsbury Park Mosque as a customer, according to the Daily Mail. Although some have accused it of Islamophobia, the bank is in the process of getting rid of customers it considers to be too risky after it was fined by US authorities for facilitating money laundering.
The mosque was one of a number of Muslim groups that the bank wrote to advising them that they were no-longer welcome as customers. They were all told that their business "now falls outside of our risk appetite" and that the process was "absolutely not based on race or religion".
Whilst the decision may not be based on religion, the decision to stop dealing with Finsbury Park Mosque is likely to be greeted with delight in some quarters. Over the years, the Mosque has been linked with a number of terrorist plots and even employed the radical hate preacher Abu Hamza as its Imam.
Recently, it has made some efforts to clean up its act, but it still remains a facility that many British people fear.
In a statement HSBC said: "We do not discuss relationships we may or may not have with a customer, nor confirm whether an individual or business is, or has been a customer.
"Discrimination against customers on grounds of race or religion is immoral, unacceptable and illegal, and HSBC has comprehensive rules and policies in place to ensure race or religion are never factors in banking decisions."
HSBC has been in trouble before for removing longstanding customers. In August last year it sent the London diplomatic world into disarray when it threw out a large number of foreign embassies as customers.
Whilst some of these embassies were from countries with questionable governments, most of them were the embassies of smaller countries that do not make huge amounts of money for the bank. At one stage it looked like many of them would not be able to open bank accounts elsewhere until Metro Bank agreed to take them on.
The bank is said to be worried about US regulators taking away their license to operate in America. They have already paid a massive fine of £1.9bn and doubled the number of internal regulatory officers in the Middle East.