Farage's bank accounts closed

[vetran]

Bat crazy west actually wrote the dossier, now they realise they are exposed as nasty frauds. TFFT!

From the Slaver the bible of the leftwits!

https://www.theguardian.com/politics...nt-closure-row

The chief executive of NatWest Group has apologised to Nigel Farage for “deeply inappropriate comments” made about him in official papers, saying she is “commissioning a full review of the Coutts’ processes” on bank account closures.

The former Ukip and Reform party leader had said his bank account was unfairly shut down by the private bank Coutts, which is owned by NatWest Group, because it did not agree with his political views.

NatWest Group has come under political pressure in recent days over the matter. Its chief executive, Dame Alison Rose, said the “deeply inappropriate comments made in the now-published papers prepared for the Wealth Reputation Risk Committee” did not reflect the view of the bank, as she apologised to Farage.

She said: “No individual should have to read such comments and I apologise to Mr Farage for this. I have written to him today to make that apology and reiterate our offer of alternative banking arrangements.

Farage confirmed this month he had been offered a personal account at NatWest after the closure of his Coutts one.

Rose added: “I am commissioning a full review of the Coutts’ processes for how these decisions are made and communicated to ensure we provide a better, more transparent experience for all our customers in the future.”

Oh OK its not Farage at fault then, can you all apologise for your idiocy or will you still make up tulip based on your prejudices like the banks??.

There is a wail story but this is far more satisfying!

[vetran]

I actually read the dossier. See no political bias in the decision. His politics are a risk to the bank and it rightly flagged them but it didn't have a material impact on the decision.

and no!

The chief executive of NatWest Group has apologised to Nigel Farage for “deeply inappropriate comments” made about him in official papers, saying she is “commissioning a full review of the Coutts’ processes” on bank account closures.

[JustKeepSwimming]

What are you chatting about? She is apologising for the comments, as in the tone, in the minutes.

She has denied Dear Leaders begging to get his big boy bank account back.

All banks will be revieing their processes because the Government has told them it's changing. Although I suspect what she means is they will review the process to prevent 'unprofessional' comments.

[vetran]

It sounds to me as if KYC policies kicked in. No matter what your politics, if you hit them tough questions will be asked.

Sadly in my experience most banks wouldn't understand Know Your Customer rules if they were introduced with an 18" razor wire equipped strap on.

Businesses even less.

He had possessed a Coutts account for a decade, they should have made the decision ten years ago. They should not make a decision based on his politics unless he was a member of proscribed organisation BNP=challenge , UKIP=not so much.

[vetran]

What are you chatting about? She is apologising for the comments, as in the tone, in the minutes.

She has denied Dear Leaders begging to get his big boy bank account back.

All banks will be revieing their processes because the Government has told them it's changing. Although I suspect what she means is they will review the process to prevent 'unprofessional' comments.

oh the smell of desperation is strong in this one....

[JustKeepSwimming]

It sounds to me as if KYC policies kicked in. No matter what your politics, if you hit them tough questions will be asked.

They did kick in but he passed them, which is why they kept his account open subject to an annual review.

He fell below the financial criteria, but as he had a mortgage (that was due to end shortly) he was still profitable and they approved retaining him as a customer. He paid of his mortgage early and so he was exited early.

The politics/russians were review constantly as part of KYC and considered as part of other matters when deciding if the commercial decision to exit should be overruled.

[JustKeepSwimming]

Sadly in my experience most banks wouldn't understand Know Your Customer rules if they were introduced with an 18" razor wire equipped strap on.

Businesses even less.

He had possessed a Coutts account for a decade, they should have made the decision ten years ago. They should not make a decision based on his politics unless he was a member of proscribed organisation BNP=challenge , UKIP=not so much.

Oh the irony. KYC is an ongoing activity, literally FC 101.

[vetran]

Oh the irony. KYC is an ongoing activity, literally FC 101.

Were they not sure who Nigel Farage was???

https://www.thalesgroup.com/en/marke...-your-customer

KYC means Know Your Customer and sometimes Know Your Client.

KYC or KYC check is the mandatory process of identifying and verifying the client's identity when opening an account and periodically over time.

In other words, banks must make sure that their clients are genuinely who they claim to be.

Banks may refuse to open an account or halt a business relationship if the client fails to meet minimum KYC requirements.

oh I feel so aSSGURU!

[JustKeepSwimming]

You are trolling, I get not everyone works in the space but refuse to accept a contractor doesn't know the absolute basics. KYC/AML/CTF are all used interchangeable to cover Financial Crime.

[vetran]

You are trolling, I get not everyone works in the space but refuse to accept a contractor doesn't know the absolute basics. KYC/AML/CTF are all used interchangeable to cover Financial Crime.

Have you any idea how badly KYC is implemented?