Who has the final say in HUAWEI compliance? Liu Xin calls the HUAWEI chief justice officer.

 Who has the final say in HUAWEI compliance? Liu Xin calls the HUAWEI chief justice officer.

The evidence of Meng Wanzhou case is open! Huawei to submit investment certificate

Public evidence shows that the so-called Meng Wanzhou case is a political case concocted by the United States. HSBC participated in the construction and played a very disgraceful role in maliciously doing the Bureau, patching up materials and fabricating criminal evidence. Meng Wanzhou is innocent!

Make up a charge, and the accusation is vulnerable

According to the case prosecution record submitted by the United States to the Canadian court, Meng Wanzhou concealed the relationship between Huawei and Hong Kong Starcom Technology Co., Ltd. (hereinafter referred to as Hong Kong Starcom) from HSBC, and misled HSBC to continue to provide banking services to China. Therefore, HSBC violated the U.S. sanctions against Iran and faced the risk of civil and criminal finesu201c Fraud .

The only key evidence in this case is a PPT document handed over by Meng Wanzhou to HSBC. The published materials include the full text of PPT and the business email records of HSBC and Huawei. The United States deliberately conceals and misinterprets the core information, and the accusation is totally inconsistent with the facts.

u2014u2014HSBC has always been aware of Huaweis relationship with Hongkong star.

It is a blatant lie for HSBC to falsely claim that it is not clear about Huaweis relationship with Hongkong star.

Hong Kong Starcom is Huaweis partner in Iran, and the relationship between them is clear. Huawei once held shares in Hong Kong star, and Meng Wanzhou served briefly as a director of the company. However, in 2007, Huawei sold its Hong Kong Star shares, and in April 2009, Meng Wanzhou resigned from the companys board of directors. Since then, the two sides have maintained normal business contacts.

HSBC has always known Huaweis Iran business. In 2010, three-party e-mails proved that HSBC was fully aware of Huaweis relationship with Hongkong star. According to the 2009 / 2010 financial report of Hong Kong Starcom sent by Huawei to HSBC, HSBC fully understands the business situation of Hongkong star in Iran.

In order to justify itself and strengthen the effectiveness of criminal evidence, HSBC claims that only junior employees are aware of Huaweis relationship with Hongkong star, but these junior employees do not pass on the relevant information to the senior managers, resulting in the latter having to rely on the PPT provided by Meng Wanzhou to judge the risk.

The grass-roots know that, the senior management does not know, HSBCs words are pure nonsense!

As the worlds largest communication equipment manufacturer and Forbes Fortune 500, Huawei is the 17th largest customer of the global liquidity and cash management department of HSBC. The two sides have had business cooperation for nearly 20 years. With the scale and duration of such cooperation, will the HSBC account manager serving Huawei be junior employees? Whats more, it is not a reason for HSBC to exempt its own employees, nor is it in line with the compliance management system of the banking industry.

In particular, in December 2012, HSBC signed a deferred prosecution agreement with the US Department of justice for its own misconduct, including violation of the U.S. sanctions against Iran. HSBC assured the US Department of justice that it would conduct a review and clean-up of its customers across the group. In the process, how could HSBC not identify the relationship between Huawei and Hongkong star? If it is not clear, it can be confirmed that HSBC cheated the US Department of justice and should be severely punished!

The most basic compliance requirement of large financial institutions is know your customers. HSBC has a special risk management committee, which claims that all branches have compliance departments. If risk assessment only relies on Meng Wanzhous PPT, what is the employment of these personnel?

In order to frame up Meng Wanzhou, HSBC will not hesitate to demote itself, a hundred years of big line, disgraced!

When Meng Wanzhou met with senior executives of HSBC, the HSBC account of Hongkong star was closed, and the cooperation on Iran business between the two sides had ended. As far as HSBC is concerned, there is no problem of Meng Wanzhous fraud in the previous cooperation with Hong Kong Starcom; since then, there has been no cooperation with Hongkong star, which does not touch this risk. The so-called Meng Wanzhou misleads HSBC to continue its cooperation is untenable.

In December 2012 and January 2013, Reuters published two reports that Huawei, through Hong Kong star, engaged in business in Iran in violation of the U.S. sanctions act, including reselling U.S. - made computer equipment to Iranian telecom operators.

In addition to Huawei, Ericsson, Nokia and other well-known Telecom manufacturers have trade contacts in Iran, but they have not attracted so much attention from the United States. Strangely, at this time, HSBC seemed to smell something, and suddenly began to worry about the impact of Hong Kong star, and frequently invited Huaweis senior executives to Hong Kong to communicate on relevant issues.

Both Huawei and Hong Kong Starcom have normal business operations in Iran, which does not violate the U.S. sanctions law. Even U.S. Commerce Secretary Ross admits, my colleagues and I have not found any problems with Huawei.. Even so, in February 2013, Hongkong star closed its HSBC account. This concludes Huaweis cooperation with HSBC in Iran.

The business has been terminated, and HSBC has repeatedly asked for communication with Huawei. Out of respect, in August 2013, Meng Wanzhou met with senior executives of HSBC, and gave a detailed account of Huaweis business in Iran. The PPT displayed introduced Huaweis and Hong Kongs customers, products, compliance requirements and compliance systems in Iran.

Whether a client has a business in Iran is the only element in HSBCs assessment of compliance risk. On this issue, Meng Wanzhou did not hide or mislead. During the talks between the two sides, Meng Wanzhou did not encourage HSBC to reopen an account for Hongkong star.

There is no risk, and HSBC is certainly happy to continue working with Huawei. In fact, it was not until August 2017, when it came to the last minute to cooperate with the United States to build Huawei, that HSBC had no reason to terminate the cooperation between the two sides. In the past five years, relying on Huaweis large-scale business, HSBC has made huge profits.

u2014u2014HSBC claims to have been cheated and has no actual loss.

In order to make the illusion of being cheated, HSBC exaggerates the data and conceals the facts.

HSBC claims to have provided a $900 million credit line to China, putting its economic interests at risk. 900 million dollars, its a bluff, but whats the truth?

On April 30, 2014, HSBC and eight other banks jointly proposed to provide Huawei with a US $900 million credit line, and each participating bank provided a US $100 million credit line. Based on the proposal, 26 banks, including HSBC, provided Huawei with a $1.6 billion credit line on July 25, 2014, of which the total limit provided by HSBC was $80 million.

Call out 900 million, actually 80 million! Whats more shameless is that HSBC conceals the key fact: in June 2017, Huawei cancelled this credit line, which has never been used before.