Spain’s second-largest bank, BBVA, has frozen up to 5,000 accounts without warning. Many of the accounts belonged to Chinese clients, leading to cries of racism. The bank, however, claims it was acting on Spanish anti-money laundering rules.
Hundreds of Chinese citizens waving Spanish and Chinese flags took to the streets of Madrid on Friday to protest against BBVA, saying the bank had blocked their accounts, Reuters reports.
Spanish media report that the protesters are demanding access to their money. The protesters yelled "Justice now, No to racism" and held Spanish and Chinese flags.
Deutsche Welle reports:
Chinese protest mass bank account freeze in Spain 15.02.2019
- Hundreds of ethnic Chinese — Chinese and Spanish nationals alike — staged a protest outside the BBVA building in Madrid on Friday, claiming that their personal bank accounts had been frozen without notice.
- Accusing the bank of being racist, demonstrators demanded access to their accounts and called for justice, local media reported.
- A woman accused the bank of blocking her account as well as those of her daughter and her restaurant.
The Chinese authorities have raised the pressure on Spain on this issue. The Ministry of Foreign Affairs of China urged Spain to adopt "effective measures" to "protect" Chinese citizens before the blockade of their accounts, El Pais reports. "The Chinese government attaches great importance to protecting the legitimate rights and interests of Chinese citizens abroad and expects the Spanish authorities to take effective measures to seriously guarantee the rights of Chinese citizens in Spain," the spokesperson said. Ministry, Geng Shuang.