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News, UK

Former Brexit party leader lashes out after being offered a NatWest standard personal account 

Premium July 4, 2023

DE-BANKED: There have been a surge in complaints about debanking on the back of Nigel Farage's success against NatWest's decision to close his account.

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LATEST: Croatia, Cyprus and Lithuania get upgraded ratings after tightening AML measures

BREAKING: TD Bank’s nightmare FCC week as Canada’s AML watchdog fines lender $6.7M over STR failures

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INSIGHT: How Balkan gangsters became Europe’s top cocaine suppliers

By Alisha Houlihan for AMLi

It has been announced that Nigel Farage’s bank accounts with Coutts will be closed and he will be transferring them to NatWest. 

Last week, the former Brexit party leader said he had been shut out of an unnamed “prestigious” bank, according to The Financial Times.

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LATEST: Croatia, Cyprus and Lithuania get upgraded ratings after tightening AML measures

BREAKING: TD Bank’s nightmare FCC week as Canada’s AML watchdog fines lender $6.7M over STR failures

 Premium

INSIGHT: How Balkan gangsters became Europe’s top cocaine suppliers

Regulatory Watch News

  • Treasury Targets Sanctions Evaders Supporting Key Hizballah Financial Advisor

    OFAC

    WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five individuals for helping U.S.-designated Hizballah money exchanger Hassan Moukalled (Moukalled) and his company, CTEX Exchange, evade sanctions and facilitate illicit activities in support of Hizballah. These individuals, including two co-founders of CTEX Exchange and two of Moukalled’s sons, operate two companies in Lebanon and the United Arab Emirates (UAE) that are being concurrently designated. Individuals and entities targeted today are being designated pursuant to Executive Order (E.O.) 13224, as amended, which targets terrorist groups, their supporters, and those who aid acts of terrorism.

  • FINTRAC imposes an administrative monetary penalty on The Toronto-Dominion Bank

    FINTRAC

    FINTRAC announced today that it has imposed an administrative monetary penalty on The Toronto-Dominion Bank. Following a compliance examination in 2023, this bank in Toronto, Ontario, was imposed an administrative monetary penalty of $9,185,000 on April 9, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

  • Operation PANDORA shuts down 12 phone fraud call centres

    Europol

    In the early hours of 18 April 2024, German, Albanian, Bosnian-Herzegovinian, Kosovar* and Lebanese police forces raided 12 call centres identified as the source of thousands of daily scam calls. 21 persons were taken into custody during this Europol-supported action day, which took down a criminal network responsible for defrauding thousands of victims through the use of various modus operandi. The callers’ playbooks would range from shocking fake police calls, persuasive investment fraud or heart-wrenching romance scams. In an unprecedented law enforcement effort, a large-scale German investigation evolved into Operation PANDORA, which identified 39 suspects.

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