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NEWS: Jump in complaints to UK financial institutions prompted by Nigel Farage ‘debanking’ scandal 

Premium July 24, 2024

DE-BANKED: Controversy around how UK financial institutions interact with PEPs erupted last year. This came after it emerged that Alison Rose, the chief executive of Coutts’s owner, NatWest, had discussed the matter of Nigel Farage’s bank account with a BBC journalist. Today the FCA issued its findings on how banks deal with PEPs.

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NEWS: Thales, Europe’s largest defence technology company, faces bribery probe from UK’s SFO

BREAKING: UK sanctions trio of wealthy oligarchs in new campaign against dirty money

INSIGHT: Corporate secrecy ‘scourge’ in fight against fincrime, time for fully public BO registers, says Financial Times

By Paul O’Donoghue

A SIGNIFICANT increase in the number of complaints about how UK financial institutions handle data requests has been linked to Nigel Farage’s ‘debanking’ scandal.

A Freedom of Information Request from consultancy firm KPMG found that in the year to April, there was a 15% rise in complaints to the Information Commissioner’s Office about financial companies failing to comply with “subject access requests”.

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Premium

NEWS: Thales, Europe’s largest defence technology company, faces bribery probe from UK’s SFO

BREAKING: UK sanctions trio of wealthy oligarchs in new campaign against dirty money

INSIGHT: Corporate secrecy ‘scourge’ in fight against fincrime, time for fully public BO registers, says Financial Times

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