London Daily

Focus on the big picture.
Friday, Jun 20, 2025

Media firm executives say HSBC has frozen their bank, credit card accounts

Media firm executives say HSBC has frozen their bank, credit card accounts

Next Digital CEO Cheung Kim-hung says he is unable to withdraw money, while chairman’s aide Mark Simon says his personal, credit card accounts have been frozen.

Executives of Hong Kong media firm Next Digital at the centre of a row between Washington and Beijing told the Post on Thursday their bank accounts with HSBC had been suspended without any prior notice.

Next’s CEO Cheung Kim-hung said he was unable to withdraw any money from his personal account, but his credit cards with the bank were active.

Mark Simon, the top aide of Next’s chairman and founder Jimmy Lai Chee-ying, told the Post that HSBC froze his personal and credit card accounts, as well as Lai’s personal and private business accounts. However, he said Next’s business accounts were active.

“I have instructed [my] lawyer to make inquiries to the bank,” Cheung said. “It may be due to my arrest on 10 August.”

HSBC declined to comment on individual customers.


Apple Daily founder Jimmy Lai’s personal and business accounts at HSBC have been frozen.


Cheung and Lai were among seven people arrested on August 10 over alleged fraud and violations of the national security law. The arrested also included Lai’s two sons and three senior employees with Next, which publishes tabloid-style Hong Kong newspaper Apple Daily. Simon, who was not in the city, is wanted by police.

The arrests, which saw more than 200 officers raid the newspaper’s headquarters in Tseung Kwan O on August 10, came amid growing US-China tensions.

On Wednesday night, United States Secretary of State Mike Pompeo accused HSBC of severing bank account access to Next Digital executives. while offering banking services to individuals sanctioned by the US.

“British bank HSBC has reportedly prevented Hong Kong-based executives at Next Media, a well-known publisher of pro-democracy publications, from accessing their credit cards and personal bank accounts,” Pompeo said. “The bank is thus maintaining accounts for individuals who have been sanctioned for denying freedom to Hongkongers, while shutting accounts of those seeking freedom.”


Peter Wong, HSBC’s Asia-Pacific CEO, signs a petition to support the national security law in Hong Kong.


Pompeo said HSBC’s Asia-Pacific CEO Peter Wong Tung-shun had signed a petition supporting Beijing’s decision to “crush Hong Kong autonomy and its people’s freedoms”.

In July, US President Donald Trump signed an executive order to end special treatments offered to the city stipulated under the Hong Kong Policy Act of 1992, in retaliation against Beijing’s decision to impose the national security law. He denounced the move as trampling the city’s democratic development and high degree of autonomy guaranteed by the “one country, two systems” governing principle.

The Trump administration also imposed economic sanctions on Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor and 10 former and present Hong Kong and mainland Chinese officials for having a hand in the legislation.

Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
Nationwide 'No Kings' Protests Challenge Trump's Leadership
UK Deploys Jets to Middle East Amid Rising Tensions
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
Germany Holds First Veterans Celebration Since WWII
U.S. Health Secretary Dismisses CDC Vaccine Advisory Committee
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×