Time for a PEP talk

[Pale Rider]

Until a few days ago I'd never heard of a politically exposed person (PEP).

Farage is a bit of a nutter, so I'm not interested in his case.

But in the last few days several what we might call ordinary campaigners have reported problems with their banking arrangements.

These people are not politicians in the sense they are unelected, although I suppose they could be described as politically active because for their campaigns to be effective it would usually need the real politicians to take some action.

The banks' main excuse for being difficult appears to be these people may be subject to blackmail or get involved in money laundering.

Which I find laughable, having interviewed many of what I call single issue campaign loonies.

They are tiresome and could bore for England, but master criminals they are not.

As regards blackmail, they are almost universally potless, so would make a very poor target.

 

[AuroraSaab]

It's not a good situation if banks are withholding or refusing services based on legal political views, however unpalatable they might be to some. There might be more to this than meets the eye with Farage obviously.

 

[Bromptonaut]

It's not a good situation if banks are withholding or refusing services based on legal political views, however unpalatable they might be to some. There might be more to this than meets the eye with Farage obviously.

Is there any real world, independently sourced, evidence of people, in particular ordinary people not 'PEP' types, having accounts closed based on political views?

When I first read the title I thought of Personal Equity Plans - it's an age thing.

 

[CXRAndy]

Farage is a bit of a nutter, so I'm not interested in his case.

You should be, because banks have decided collectively to act as social behaviour judge and jury . Hiding behind tipping off legislation conducting a purge those who have a different opinion.

This is a very dangerous situation, your whole life could destroyed if you can't operate without a bank account.

 

[CXRAndy]

Is there any real world, independently sourced, evidence of people

The banks sit quietly dropping the guillotine on people's financial position.

They are not going to advertise proudly they have just closed someone's accounts.

Except the recent case of Yorkshire building society, that sent out an email for feedback. A Vicar queried why the bank was engaging in social engineering, had reservations due to his religious beliefs and being taught to children. YBS stupidly, but thankfully exposed themselves by admitting they didn't like his opinions and are closing his accounts

 

[Ian H]

It appears that Farage's account with Coutt's was closed because he no longer wealthy enough (political huckstering obviously doesn't pay so well these days). There seem to be a couple of further unverified claims about other banks. I suspect it'll prove to be a storm in a very small teacup.

 

[CXRAndy]

It appears that Farage's account with Coutt's was closed because he no longer wealthy enough (political huckstering obviously doesn't pay so well these days). There seem to be a couple of further unverified claims about other banks. I suspect it'll prove to be a storm in a very small teacup.

Yet several people have said they have less than the limits and are not having their accounts closed. If it was the case he would have no problems getting another bank account.

Yet nine other banks have rejected him.

Their is collusion between the banks.

I know first hand this can happen out of the blue, a business contact had this happen to his business after 20 years of blemish free banking.

He was fortunate to acquire another account elsewhere. He is a multi millionaire, not short of income or cash

 

[Bromptonaut]

It may be that the definition of a PEP needs to be revisited though some people arguing for change/abolition are almost classically in need of the lawyer's 'Qui Bonis' being asked.

To which in cases like Rees Mogg and several other members of the current governing party is ME!!

 

[Bromptonaut]

Yet several people have said they have less than the limits and are not having their accounts closed. If it was the case he would have no problems getting another bank account.

Yet nine other banks have rejected him.

Their is collusion between the banks.

I know first hand this can happen out of the blue, a business contact had this happen to his business after 20 years of blemish free banking.

He was fortunate to acquire another account elsewhere. He is a multi millionaire, not short of income or cash

There are laws on this stuff. If by 'collusion' you mean information sharing then I'd damn well want the banks doing it.

 

[CXRAndy]

There are laws on this stuff. If by 'collusion' you mean information sharing then I'd damn well want the banks doing it.

Why don't you do an experiment. Write into your bank, query their woke credentials (obviously it's tongue in arse)

See what happens to you. Publish all the correspondence to verify the situation

 

[Pale Rider]

You should be, because banks have decided collectively to act as social behaviour judge and jury . Hiding behind tipping off legislation conducting a purge those who have a different opinion.

This is a very dangerous situation, your whole life could destroyed if you can't operate without a bank account.

I ruled Farage out of the equation partly because he's such a divisive figure.

But I agree his case does seem genuinely murky.

 

[theclaud]

Why don't you do an experiment. Write into your bank, query their woke credentials

It's news to me that 'my' bank has 'woke credentials'. Last time I looked it was investing in palm-oil driven deforestation and flogging arms to Israel.

 

[Pale Rider]

It's news to me that 'my' bank has 'woke credentials'. Last time I looked it was investing in palm-oil driven deforestation and flogging arms to Israel.

Never had you down as an anti-semite, but I suppose it comes with being a Labour supporter.

 

[Bromptonaut]

Never had you down as an anti-semite, but I suppose it comes with being a Labour supporter.

You're falling into a trap there.

Much as Netanyahu and his cronies would like it to be so opposing Israel's actions actually has diddly squat to to with Antisemitism.

 

[Pale Rider]

You're falling into a trap there.

Much as Netanyahu and his cronies would like it to be so opposing Israel's actions actually has diddly squat to to with Antisemitism.

Come off it Bromp, when posting a la Claud, the truth and facts have nothing to do with it.

Just putting the boot on the other foot, is all.