In a significant move as part of its global security strategy, HSBC plans to implement a four-fold increase in the number of surveillance cameras at its new building in the City of London. This new site, which is approximately half the size of its existing office located in Canary Wharf, will see an estimated 1,754 cameras installed, a substantial rise from the current 444 devices in use at its global headquarters. This information comes from an internal presentation by the bank's protective security team, dated May 2025, which was reviewed by Reuters.
In addition to increasing the number of cameras, HSBC plans to double its biometric readers for building access, raising the total from 350 to 779. These enhancements are part of a broader initiative to ensure that access to HSBC’s premier buildings—both in the UK and the US—will primarily rely on biometric verification, including advanced full-hand recognition technology. Furthermore, employees will be able to access the building digitally, utilizing their personal mobile devices to badge in as outlined in the presentation.
As Europe’s largest bank by assets, employing over 210,000 individuals worldwide (including more than 31,000 in the UK), HSBC’s shift toward biometric and digital access has raised some concerns among staff. A source familiar with the implementation noted that as of the end of last year, a significant portion of UK employees had not fully adapted to the biometric access policy initiated in 2022, partly due to employee resistance.
HSBC representatives emphasized that the safety and security of their personnel is a top priority. "We regularly conduct risk assessments for every building, and based on identified risks and vulnerabilities, we invest in the latest cutting-edge technology to protect our colleagues, customers, and visitors in accordance with industry standards," an HSBC spokesperson told Reuters.
Many companies are ramping up surveillance measures in the wake of a shift toward hybrid working models. Technological advancements have enabled more sophisticated monitoring systems, particularly in the banking sector, where compliance with regulatory conduct rules is critical. National privacy laws play a crucial role in determining the extent of surveillance that companies can legally implement.
In July, HSBC requested that senior staff report to the office at least four days a week starting in October, a change from its previous flexible approach that varied by location. As the demand for office space grows, HSBC is also revising its plans for its City of London headquarters while maintaining a smaller presence in Canary Wharf, according to reports from Reuters.
The bank's security project is being overseen by Diane Marchena, the global head of protective security, who reports to Chief Operating Officer Suzy White. Both Marchena and White declined to comment on the specifics of the security enhancements for this article.
HSBC's surveillance strategy has involved collaboration with the Israeli firm Octopus since at least 2024. The bank has started adopting Octopus’s surveillance tools in the UK and Hong Kong, with plans for further deployment in countries like India and Mexico later this year. Israel is recognized as one of the leading exporters of surveillance technology, and Octopus claims to serve clients in 28 countries.
While a representative from Octopus did not respond to inquiries from Reuters, an HSBC spokesperson noted that the bank does not comment on its vendors or suppliers.
In the new London building, the enhanced video surveillance will specifically target entry and exit points of trading floors, integrating artificial intelligence analytics to bolster security. Recently, HSBC tripled its budget for the initial rollout of surveillance measures at the new headquarters to approximately $15 million, reflecting the importance of security enhancements. The internal presentation highlighted that theft incidents at the Canary Wharf location underscored the necessity for improved CCTV capabilities, especially given recent crime data indicating an uptick in burglary occurrences within a one-mile radius of the new office.
According to insiders, while theft incidents occurring on HSBC’s premises have mostly been minor, the bank is committed to ensuring a secure working environment for all its employees and clients.
