United Kingdom
General community for news/discussion in the UK.
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Banks are private entities and can choose who they wish to do business with. You have no inherent entitlement to use their services.
Banks have been doing this forever - you just care now a person on the right is complaining.
It’s almost the opposite. Banks used to be more than happy to do business with all kinds of crooks. Government regulations restrict them from being so blasé these days.
Yep, banks are liable for all kinds of AML restrictions, MPs/politicians are high risk individuals by default. He's tripped sufficient KYC flags and they've shitcanned him. Simple as that.
And Nigey is a libertarian
Suddenly upset at the free market in action.
No-one is stopping him opening a bank account. He could go and open the same proletariat bank account I have, that most people have, that you probably have. No background checks, no credit, no problem; just proof of address, sign here, here's your debit card.
He isn't being denied banking. He's being denied a secret channels where he is carrying our transactions so fucking nasty, so tainted, so illegal and so fucking repugnant that even the companies that prop up slave owners, terrorists and nazi gold hoarders are saying it's bad for business.
Farage blatantly has income sources that would fall foul of UK banking anti-money laundering and sanctions rules. They absolutely should have the power to not provide banking services to people funded by illegal dark money. More than that, they have anobligation not to
it is those rules that mean they cant do buisness, those rules were written and passed to meet laws from parliament.