Anti-Financial Crime & Financial Crime Compliance
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LATEST: New law in UK proposes three month notice for ‘debanking’ in wake of NatWest debacle

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.

By Huw Jones

Britain proposed a draft law on Thursday that will compel banks to give customers three months’ notice and an explanation before closing their accounts, after former Brexit Party leader Nigel Farage said last year he was ‘debanked’ on political grounds.

Terminating services became a political issue after Farage said his account at private bank Coutts, part of NatWest, was closed due to his political views, spurring a row that ended with the shock departure of NatWest CEO Alison Rose.

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