Careful what you say, or you may end up without any banking facilities.

"Having conflicting values with banks" that's a laugh given what some financial institutions have knowingly inflicted on the world and the constant bail outs for their own morally reprehensible behaviour, they've now set themselves up as some sort of moral arbiters.

Multi nationals, financial corporations all have to sign up to something called ESG, Environmental, Social and Governance, whereby BlackRock, a hedge fund no less, amongst others allocate money based on political agendas, such as a drive against climate change, promoting minority groups LGBT etc. So rather than earning the best returns for savers, they are now social engineers, parading their own vanity. It seems as far as outrage is concerned all roads lead back to Nigel Farage who may well be a ghastly man, although probably he is not the only ghastly person out there with a bank account? Clearly he is the wrong type of ghastly though as opposed to say Hunter Biden who is probably the right type of ghastly and who I imagine has a bank account or two without too many threats as to them being withdrawn. American I know but that is where much of these new crusades emanate from.

I have an overseas bank account in the Far East. When I look at their regulations on money laundering, there is a reference to Politically Exposed Person (PEP).

It says PEPs (due to their influential positions), their family and associates are at higher risk of

a) Money laundering
b) Corruption charges
c) Accepting bribes

So, if the bank refused application from Jeremy Hunt or close the bank account belonging to Nigel Farage, it is because they are trying to safeguard the bank from dirty money and safeguard its reputation.

IMHO, the UK politicians are very corrupt. They always lining their own pockets. Some of the Tory MPs are guilty of receiving cash for favours from rich Russian donors.

The irony is they have the cheek to called themselves Right Honourable Mr / Mrs / Miss so and so.

M0nica

*DiamondLily*, but it has taken Nigel Farage to really give this problem legs and get it into the public sphere.

I accept that sometimes banks are constrained because they believe the person is involved in money laundering, but the bank systems are not perfect and completely innocent people have been targetted. As for the Politally Exposed Person system, this is shockingly badly run. It is an international system and its purpose was to limit massive corruption in corruptly run, usually dictatorial governed states, Zimbabwe under Robert Mgabe and such like.

When it is being extended to include children and grand children of government ministers in democraticly run countries, where massive curruption is not a problem, then it need sto be curtailed.

Farage was only offered an account with Nat West AFTER he went public about Couttes rejecting him.

Yes, the money laundering thing has become a saga. I don't know where Farage gets money from, and he's not likely to say.

If I were a private business, then, frankly, I wouldn't want to deal with Farage or his ilk.

But, some perfectly innocent people, non political, have been caught up in the "money laundering/fraud" bank saga, and should be given the right to reply and challenge decisions.

SporeRB What you have written verges on libellous.

Coutts have been trying, after the event, to suggest that they shut his account for those kinds of reasons. I never thought I would spring to NF's defence, but the Coutts document released to the public makes it clear that he was ditched for personal reasons only, everything since has been after the event.

I would also point out that the late Nigel Lawson's learnng disabled grand daughter was refused a bank account and an entirely legitimate registered charity set up with her and her mother (not a relation of Nigel Lawson, except by marriage) among the trustees were refused accounts because they were defined as PEPs. How would you rate the likelihood that they, or the charity were likely to be involved in money laundering, corruption or accepting bribes?

You also say IMHO, the UK politicians are very corrupt. How would you rate them compared with Russian Oligarchs, Mexican Drug cartels, Middle Eastern Royal families or The despots that rule a number of African countries? These people are money laundering, embezzling money and taking bribes amounting to -£billions_ every year.

There are politicians in all parties who are corrupt or corruptible but to make sweeping statements that infer that all politicians are corrupt is to seriously damage the reputations of the many in all parties who are not corrupt and never have been.

Completely agree with Monica's analysis, "UK" politicians are very corrupt", Strewth, you're selective Spore, how about these, Ex French president, Sarkozy convicted of corruption, Late Bunga Bunga Berlusconi, that Greek MEP Eva Kaili, imprisoned for participation in criminal organisation, corruption and money laundering, lets not forget Trump and his shenanigans to add to all the others Monica has outlined above. You appear to have the air of an anti UK tunnel visioned individual.

M0nica

SporeRB What you have written verges on libellous.

Coutts have been trying, after the event, to suggest that they shut his account for those kinds of reasons. I never thought I would spring to NF's defence, but the Coutts document released to the public makes it clear that he was ditched for personal reasons only, everything since has been after the event.

I would also point out that the late Nigel Lawson's learnng disabled grand daughter was refused a bank account and an entirely legitimate registered charity set up with her and her mother (not a relation of Nigel Lawson, except by marriage) among the trustees were refused accounts because they were defined as PEPs. How would you rate the likelihood that they, or the charity were likely to be involved in money laundering, corruption or accepting bribes?

You also say IMHO, the UK politicians are very corrupt. How would you rate them compared with Russian Oligarchs, Mexican Drug cartels, Middle Eastern Royal families or The despots that rule a number of African countries? These people are money laundering, embezzling money and taking bribes amounting to -£billions_ every year.

There are politicians in all parties who are corrupt or corruptible but to make sweeping statements that infer that all politicians are corrupt is to seriously damage the reputations of the many in all parties who are not corrupt and never have been.

Monica I suspect the issue for Nigel Lawton’s granddaughter lies with her father, not him. He has a chequered past.
edm.parliament.uk/early-day-motion/17649/mr-dominic-lawson-and-the-security-services

Sorry autocorrected Lawson.

I understand that the reason given was the grandfather.

I don’t know Monica, the only account I could find was in the Daily Mail, where her father says they didn’t tell them that it was her grandfather, but he knew it was. I think his past has more questions which would make him a PEP than his father’s myself, and his father has died now, but I’m not a bank.

Of course Farage can always sue Coutts and try their decision in court.

But I suspect he won’t for obvious reasons.

Pity poor Nigel

www.theguardian.com/commentisfree/2023/jul/19/nigel-farage-bank-coutts-money?CMP=Share_iOSApp_Other

People see the word Nigel Farage and suddenly have no sense of what is right or wrong. Doesnt align with the banks values - are you kidding me. Most of my values dont align with the values of most banks, thank God.

SporeRB

I have an overseas bank account in the Far East. When I look at their regulations on money laundering, there is a reference to Politically Exposed Person (PEP).

It says PEPs (due to their influential positions), their family and associates are at higher risk of

a) Money laundering
b) Corruption charges
c) Accepting bribes

So, if the bank refused application from Jeremy Hunt or close the bank account belonging to Nigel Farage, it is because they are trying to safeguard the bank from dirty money and safeguard its reputation.

IMHO, the UK politicians are very corrupt. They always lining their own pockets. Some of the Tory MPs are guilty of receiving cash for favours from rich Russian donors.

The irony is they have the cheek to called themselves Right Honourable Mr / Mrs / Miss so and so.

Bet those banks are used to dodgy money. Turning a blind eye when it suits. I suggest you provide proof, before you malign all politicians as either corrupt, called defamation and is a criminal offence.

Galaxy

People see the word Nigel Farage and suddenly have no sense of what is right or wrong. Doesnt align with the banks values - are you kidding me. Most of my values dont align with the values of most banks, thank God.

Nor mine. But I suspect as the guardian article alluded, Coutts is more concerned with the values of the vast majority of its depositors, and their attitude to Farage - who see him as a spiv, racist and xenophobic. They don’t want to be seen rubbing shoulders with such grubbiness.

I know it's very hard but people we dont agree with are allowed financial services. I know an enormous amount of very vulnerable people who wouldnt have access to services if we use the criteria of views I like.

Whitewavemark2

Of course Farage can always sue Coutts and try their decision in court.

But I suspect he won’t for obvious reasons.

What are the obvious reason?

Farage has no problem - he can bank with Nat West.

Sago

Whitewavemark2

Of course Farage can always sue Coutts and try their decision in court.

But I suspect he won’t for obvious reasons.

What are the obvious reason?

There are quite a few, amongst them would be that he would have to be entirely open about the source of his income over a period of time, and of course face questions about his known xenophobic and racist comments.

So I suspect that Farage will not be suing any time soon.

I hope the customers of the bank respond in the way the customers of PayPal did.

Galaxy

I hope the customers of the bank respond in the way the customers of PayPal did.

You can hope, but they won’t.

Freya5

Bet those banks are used to dodgy money. Turning a blind eye when it suits. I suggest you provide proof, before you malign all politicians as either corrupt, called defamation and is a criminal offence.

A long list of British MPS who have received Russian money

twitter.com/Baz_Fairhurst/status/1510882081810923520

Dont know a few on the left are raising concerns. They finally seem to have remembered their history of not actually being on the side of banks.

If you want to see real power then you need to look no further than Coutts customers.

The government of any colour won’t touch them.

Nat West have only offered NF a Personal Account NOT a Business one. There is a difference!

They don’t come much grubbier than Prince Andrew who befriended/ defended, stayed with, went on holiday with, entertained at Windsor and balmoral 2 convicted paedophiles.
This will not go to court because Nigel Farage knows tooooo much about dirty money.

www.theguardian.com/world/2017/mar/20/british-banks-handled-vast-sums-of-laundered-russian-money