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HSBC is closing accounts in Jersey belonging to customers living in the UK, as part of a move by UK banks to check on the identity and addresses of thousands of their customers on the Channel Islands. Jersey's Chief Minister Ian Gorst insists that banks have to comply with legislation. "They strongly have to know who their customer is, where the funds have come from, (and) what they are doing with the funds," he said. "If they are not able to able to satisfy themselves around those regulatory issues then they have to take decisions to close those accounts." Customers of HSBC Bank plc have been sent a letter saying: "We've taken the difficult decision to close all Jersey accounts for customers who don't live there. This is to comply with HSBC Group standards." But the bank says customers in the UK with HSBC expat accounts, which are also registered in Jersey, are not affected.