Amidst the backdrop of the Coutts banking scandal, figures obtained by the Mail on Sunday reveal that U.K. banks are on the verge of breaking account closure records, with over a million accounts shuttered in the past four years. Here’s an excerpt:
More than a million bank accounts have been shut since 2019 – and the rate of closures is accelerating, the Mail on Sunday can reveal.
Figures obtained under a Freedom of Information request show that banks are on track to smash the previous record of 343,500 accounts closed last year.
The alarming news comes amid the continuing fall-out from the Nigel Farage affair.
NatWest boss Dame Alison Rose was forced to quit her job last month over the closure of the former UKIP leader’s account at Coutts – the lender’s private banking arm – partly because of his political views.
Banks can shut accounts with as little as 14 days’ notice if they suspect it is being used to launder money, which would leave innocent customers financially stranded.
The Government plans to introduce new rules to give customers up to 90 days to challenge closures.
Banks will also have to explain why accounts have been closed. But campaigners and victims claim this is unfair to the thousands of innocent customers who have been de-banked despite doing nothing wrong.
“I think the legislation should go further and limit banks to closing accounts only when there is clear evidence of criminal activity,” said James Daley, founder of campaign group Fairer Finance.
The de-banking data shows that so far this year almost 200,000 bank accounts have been axed because of concerns over financial crime activity such as fraud and money laundering.
The rate of account closures has exploded from under 50,000 in 2016 when the Financial Conduct Authority (FCA), the City regulator, introduced new reporting rules.
These require almost 250 lenders to submit an annual return of account closures.
The FCA said more monitoring by banks may explain some of the recent spike in shutdowns.
But experts say banks have become too risk-averse and rely too much on artificial intelligence to investigate and flag fraudulent behaviour.
“There has been a dumbing down of standards in the past 12 months or so, and many of those affected are in fact innocent of wrongdoing,” said Jeremy Asher of law firm Setfords.
Worth reading in full.
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In the drive to waste OPM Kneel’s Labour Party vandals have a lot of catching up to do but I am confident they will give it their best shot.
It used to be “the toilet papers too rough, out brothers”
Now it’s ” he called me he! Out comrades!”
The four ways of spending money, in descending order of preference:
1. Spending your own money on yourself.
2. Spending your own money on someone else.
3. Spending someone else’s money on yourself.
4. Spending someone else’s money on someone else.
Labour and the unions flip-flop between 3 and 4 (OPM) and denounce anyone who wants to do 1 and 2.
But then, what exactly has the Tory party been doing?
Folks, it’s all fucked! I don’t know what the solution is. But solutions tend to find themselves… when it’s too late.
They already have the solution. ———Print more money (Modern Monetary Theory)
Union bosses competing on which of them can circle closest to the drain…
All aided and abetted from on high by the politics of dependency and division.
Plus ça change…
Well I’m completely baffled.
”Data from Clalit Health Services (Israel’s largest healthcare organization representing more than 50% of the population)
CARDIAC ARREST Diagnoses per 1M population increased 225% from 2021 to 2022!
Up 431% from 2020!
What happened in 2021??”
https://twitter.com/_aussie17/status/1680580184603328512
Well I think on the trans issue I stand with Russia. It’s just a shame that will never happen over here. I think what the trans extremists have succeeded in doing is shooting themselves in the foot due to their disgusting behaviour and massive over-reach with their ideology. They always did have human rights but they wanted to trample on women’s rights and dominate by erasing us. The ominous as hell amount of energy put into targeting kids obviously crossed a line for many who were previously disinterested or ambivalent towards these people. Now I just swing between pity and hate. No wonder Putin is looking to many other countries and feeling the need to stamp it out, like a cancer that’s spreading. We must look like a complete and utter shitshow. ”Civilized society”? Show me what’s civilized when it comes to much of this trans movement because I only see societies disintegrating with a goal to reconfigure in a way which is so at odds with the world as I always knew it. And the worst thing being that this isn’t just some grassroots movement that will fade away, like some transient phase. Many powerful people are behind the scenes enabling and empowering all of it. No idea how it’ll all end, if it ever will.
”Russia’s lower house of parliament has passed a new law banning gender reassignment surgery, in the latest attack on LGBT rights in the country.
The State Duma approved the bill, which will also ban people changing their genders on state documents, on Friday.
Speaker of the Duma, Vyacheslav Volodin, said the bill would “protect our citizens and our children”.
In a telegram post on Friday, Mr Volodin also called gender-affirming surgery a “path to the degeneration of the nation”.
“We are the only European country that opposes all that is happening in the States, in Europe and does everything to save families and traditional values,” he said during the debate on Friday. “And we need to understand that there won’t be any future if we don’t adopt the law, if we don’t ban gender change.”
Fresh amendments added to the bill on Friday during its final reading included banning individuals who have undergone gender changes from adopting children, and annulling marriages where one party had undergone gender reassignment.”
https://www.bbc.com/news/world-europe-66200194?xtor=AL-72-%5Bpartner%5D-%5Bbbc.news.twitter%5D-%5Bheadline%5D-%5Bnews%5D-%5Bbizdev%5D-%5Bisapi%5D&at_medium=social&at_bbc_team=editorial&at_ptr_name=twitter&at_link_type=web_link&at_campaign=Social_Flow&at_link_id=132BD456-227F-11EE-9A69-3B5E3AE5AB7B&at_link_origin=BBCNews&at_campaign_type=owned&at_format=link
I have no problem with a trans person. I am infact happy for them. I hope they are live a full and happy life including a great sex life. ————I do though have a problem with biological males using the same dressing rooms, changing rooms and toilet facilities as my daughter or wife or any other WOMAN. How that situation can be resolved without redesigning every facility in every building in the country is unclear, but it cannot be solved by insisting women just shut up and accept it.
The Not-a-Conservative-Party should legislate to ban “Civil Servants” whose full time “jobs” are basically acting as a Trade Unionist (Labour-Party) activist.