Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 144

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 144
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 Contains Global Research complaint volumes.

| Acting on feedbackIn 2024, our focus has been to increase the capture and quality of complaints received within GBM. Our focus has been on doing deep divesinto the quality of complaints received and delivering bespoke training on the complaint themes that we see. We have defined robustfeedback loops allowing us to learn continuously from customer experiences and embed these into our processes. We regularly review andanalyse complaint data to identify trends and implement improvements in our services. Although we have seen growth in complaintvolumes, we are seeing higher levels of compliant quality and better decisions to address them in the first instance. |

| 78 | HSBC Holdings plcAnnual Report on Form 20-F |

ESG review | Governance

Integrity, conduct and fairness Safeguarding the financial system

| The scale of our work                                                                                                                                                                                                                                                                                                                                  |
| Each month in 2024 we monitoredapproximately 900 million transactionsfor signs of financial crime. Weperformed daily screening ofapproximately 121 million customerrecords for sanctions exposure. In 2024,we filed over 113,000 suspicious activityreports to law enforcement andregulatory authorities where weidentified potential financial crime. |

We have continued our efforts to combat financial crime and reduce its impact on our organisation, customers and the communities that we serve. Financial crime includes fraud, bribery and corruption, tax evasion, sanctions and export control violations and evasion, money laundering, terrorist financing and proliferation financing. We manage financial crime risk because it is the right thing to do to protect our customers, shareholders, staff, the communities in which we operate, as well as the integrity of the financial system on which we all rely. We have a financial crime risk management framework that is applicable across all global businesses and functions, and in all countries and territories in which we operate. The financial crime risk framework, which is overseen by the Board, is supported by our financial crime policy that is designed to enable adherence to applicable laws and regulations globally. Annual global mandatory training is provided to all colleagues, with additional targeted training tailored to certain individuals. We carry out regular risk assessments to identify where we need to respond to evolving financial crime threats, as well as to monitor and test our financial crime risk management programme. We continue to invest in new technology; we are enhancing our fraud monitoring capability and our trade screening controls, and investing in the application of machine learning to improve the accuracy and timeliness of our detection capabilities. These new technologies should enhance our ability to respond effectively to unusual activity and be more granular in our