Nigel Farage's Coutts bank account closed because he 'didn't align' with values | Hacker News Reader

Nigel Farage's Coutts bank account closed because he 'didn't align' with values

telegraph.co.uk

7 pointsllimos6 comments

This happened to a US comedian that built an alternative donation platform to Patreon. The banks all black listed his platform and closed his personal account.

In response he built backed.by a blockchain powered Patreon alternative. It is impossible for banks, governments, or even the creator of the site to terminate subscriptions to creators.

Using the PEP law, wtf is a PEP, had to look it up.

> Politically exposed person, PEPs pose a money laundering and terrorist financing risk.

I find it hard that Farage will commit such crimes.

You find it hard that Farage could fund extreme political organisations which become declared terrorist supporting organisations (rightly or wrongly), noting I obviously think he's a shitbag. My bias would be overt.

I think it's entirely within his compass. He could e.g. fund a unionist body in northern Ireland which aligns with his world view and forget to do due diligence for instance. The US has declared armed paramilitaries in Ireland terrorist bodies in the past.

Sure: they're doing it for the PR value and I dislike Coutts about as much as I dislike Farage, but I would be amazed if this isn't legal under the contract.

Yes, I find it hard to believe Farage would donate to groups to commit acts of terrorism in his home country.

Anyone can donate to a popular political group, and maybe that group could be classified as a terrorist in the future. But I think thats rare. So not a great argument imho.

But really, everyone who donates could be a PEP, under those loose definitions, of a "group I dont like".

Yes. And so a bank, seeking legal ways to decline service, would be safe. If they declare the radiostation that Farage, Galloway and Salmond all worked for to be a terrorist supporting body, they could decline service to all of them.

It's not hard to donate to bodies which fall foul of community standard. Or, appear on the podium with them. As Corbyn has found out. And, I doubt there's a basis to take action if a bank decides they don't want you as a customer accordingly.

I've closed my bank accounts down because I can't stop them sharing my data with credit scoring companies based around the world and they won't tell me who they share it with. Privacy is valuable.

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