June 28 (Bloomberg) — An employee of HSBC Holdings Plc’s Indian unit was arrested in Bangalore and accused of helping a group illegally withdraw 233,000 pounds ($424,747) from bank customers’ accounts, according to a police official. Nadeem Kashmiri, a 24-year-old employee of HSBC Electronic Data Processing (India) Private Ltd., was charged with hacking into computers and breaching confidentiality agreements and privacy laws, Sanjay V. Singh, deputy inspector general for economic offenses, said today by telephone from Bangalore.
Archive for the Category »India - Malaysia «
HSBC Bank Malaysia Bhd is confident of emerging as one of the country’s top two banks with the highest number of credit cards in circulation when it reaches its one millionth card in the next two months.
Category: 2006 HSBC, India - Malaysia, Predatory Lending
Leave a Comment
London-based HSBC bank noted that success in 2005 was attributable to the escalating growth in the emerging credit card markets including India, Indonesia, Malaysia and the Philippines. It stated that over 2005 credit card spending in the Philippines grew at 82% while in India it grew by 62%. In terms of credit card receivables, the Philippines and India reported growth of 89% and 77% respectively.
Stephen Green, Group Chief Executive, HSBC Holdings plc, said: “HSBC’s Future of Retirement: What the world wants research shows that individuals increasingly expect to bear their own costs in later life, but governments and business must understand their role in continuing to support individuals. They cannot afford to shy away from the enormous challenges and opportunities presented by global ageing.”
KUALA LUMPUR: HSBC Bank (M) Bhd aims to have one million of its credit cards in circulation in Malaysia by the year’s end. Currently, it has more than 950,000 credit cards in circulation. The bank’s head of cards, Linda Yip, said the new campaign would offer promotions and discounts, and a contest for users.
Category: 2006 HSBC, India - Malaysia, Predatory Lending
One Comment
