HSBC Watch News Release Forum Index
Forum Name: - HSBC NV
Topic Title: HSBC NV Fraud and Identity Theft
Mon Oct 17, 2005 8:47 am
This is a typical report, as CL in Maryland reported:
"This account was opened without my knowledge in 1/05. I realized this in 9/05 while obtaining a copy of my credit report. I found out that this account was over 90 days past due and still active. To make matters worse, it shows a $50 payment, I think somewhere around 4/05. I disputed this through freecreditreport.com's website and placed a fraud alert on my account at that time.
"The alert is currently active through 12/05. I have sent two dispute reports through Experian. They both show that the account has been closed at the "credit grantor's request" and show closed. It also shows that I believe that they are not holding me liable for any debt on this account, but it still shows a "closed/120 days past due" statement on my credit report. I would like very much to clear any record of this ever showing on my credit report, as this is hurting my credit score deeply. How does one accomplish this task? I have not personally contacted this company, primarily due to the fact that I have limited information on them.
"I would prefer NOT to talk to them at all, if possible, since I might have some harsh words for them. One other thing - I have a Best Buy credit card that is issued through Household Bank. About a month ago, I got a letter from them that they had reduced my credit limit by $200. Obviously, these companies are related or I don't belive I would have seen this reduction of credit for no reason whatsoever. I would greatly appreciate any and all help you could give me."
On October 17, 2005, we made a dedicated forum for HSBC NV. Perhaps long overdue, one can see many other reports about HSBC NV throughout these forums.
Mon Oct 17, 2005 9:21 am
This could be part of the fraud problem, as reported to us by an HSBC insider:
"As of 4 days ago, I have in writing as an employee, a document from Retail Services upper management advising us to process any application or joint application addition — even if it does not have any signature or indication of photo ID.
"This is done, claims the HRS management, to streamline the process so that customers do not get hassled.
"HSBC claims that Best Buy will take the entire loss if they are fraudulent but under the Patriot Act, and rules under fair lending, proper identification and signature of contract must be made for any request or extenuation of lending from the institution being solicited.
"This is being done with the assumption of management claiming that it is legal but it is NOT. Household (HSBC Finance) is directly violating these laws for failure to exercise due diligence in protecting consumers rights by not asking for the proper ID or signature that would make the credit application legal."
Do you have a problem with HSBC NV? Here are the telephone numbers we - HSBC Watch - has on record for them.
Sun Oct 23, 2005 11:00 pm
I see the HSBC NV on my credi t report... but it shows a $0 balance, and that the account is open with a limit that is pretty high! What should I do about this? - email me glennsinger519@yahoo.com
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.