HALISTER1: HK Banks to Limit Cash Balance in Credit Card Accounts: Standard

HK Banks to Limit Cash Balance in Credit Card Accounts: Standard

(Bloomberg) -- Local banks in Hong Kong including HSBC and Bank of China will limit customers’ cash amounts in their credit card accounts in line with new regulations, the Standard reports.
  • New measure aims to counter tax evasion and money laundering
  • HSBC will apply new rules from Feb. 23
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Source: BFW (Bloomberg First Word)

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