Tuesday, June 7, 2016

Safe Deposit Boxes No Longer Safe

The hunt for any of value from cash to valuable assets will expand after full-blown liquidation implode already fragile public sector budgets across the globe. The hunt will spread outward from Europe.

Headline: HSBC Tightens Hong Kong Safe-Deposit Box Rules to Boost Defenses

HSBC Holdings Plc is strengthening its oversight of its safe-deposit boxes in Hong Kong as the U.K. bank moves to bolster its defenses against financial crimes. The London-based lender has introduced “several clauses” to the conditions of lease for its safe-deposit lockers, HSBC said in an e-mailed statement Monday. Customers were requested not to deposit any property which could become “a nuisance” or of an illegal or “offensive nature,” including explosive, inflammable or liquid items, illegal drugs, weapons, guns and stolen property.



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