Jun 18, 2026 – 12.09pmHSBC Australia has admitted it failed to protect customers from being scammed out of their life savings and has agreed to pay a $35 million penalty after being hit with legal action by the corporate regulator.The Australian Securities and Investments Commission and HSBC have jointly asked the Federal Court to approve the fine, leaving Justice Elizabeth Bennett to decide whether the amount is appropriate.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
HSBC agrees to $35m fine for failing scammed customers
The Australian arm of the international bank admitted it had failed to protect its customers from criminals who scammed them out of their life savings.
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