Trump/Ukraine, What Will He Do?
News8 mins ago
Coutts Have Been Telling Fibs
or at least being economical with the truth. Mr Farage's account was closed for political reasons and the views Mr Farage hold do not align with Coutt's. Going under the financial threshold had little to do with their decision. I hope he takes them to court as a result of unproved malicious allegations and slurs made against him.
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If you're not in a position of power, and Farage isn't, then you don't qualify as a PEP.
the position of power test doesnt work: the partners and kids of the (principal) may be PEPs ( and THEY dont have power), buut the Great Thinkers at the banks have worked out they may be involved in money laundering
Two points / streams here. One is (a) money laundering which I know an awful lot about and (b) PEPs have higher costs for the Banks ( more stuff to pry into). I dont think anyone thought the banks who are in it for money I admit, would say " easy we cast off the expensive PEPs on cost grounds". They ARE more likely to be high rollers.
I have to say a lot of this has left me boggle eyed and aghast ( and wiv ma bazoom heaving)
the position of power test doesnt work: the partners and kids of the (principal) may be PEPs ( and THEY dont have power), buut the Great Thinkers at the banks have worked out they may be involved in money laundering
Two points / streams here. One is (a) money laundering which I know an awful lot about and (b) PEPs have higher costs for the Banks ( more stuff to pry into). I dont think anyone thought the banks who are in it for money I admit, would say " easy we cast off the expensive PEPs on cost grounds". They ARE more likely to be high rollers.
I have to say a lot of this has left me boggle eyed and aghast ( and wiv ma bazoom heaving)
Coutts - which describes itself as “inclusive” and “culturally aware” - has previously managed the cash of dictators, mafia bosses, and Russian oligarchs.
Pinochet
The former Chilean dictator Augusto Pinochet held an account with the US branch of Coutts among other banks, hiding $15 million (£7.8 million) in total across financial institutions. A US Senate subcommittee revealed in 2005 that the despot, responsible for the executions and forced disappearances of more than 3,000 people, had invested with Coutts & Co in Miami.
Mafia leader Emilio Di Giovine laundered nearly £2 million of cash through his Coutts account, according to the Guardian in 1999. The notorious boss of the Ndrangheta, one of Italy’s wealthiest crime syndicates, served eight years in jail in the1990s.
Hosni Mubarak, the former Egyptian president, and his sons were also clients within the same branch, The Guardian reported in 2016. Mubarak oversaw “systematic” violations of human rights by the security services in Egypt, according to Amnesty International, and was sentenced to a three-year prison term for embezzlement of public funds in 2014.
Russian money laundering with links to the Russian government and KGB was processed through UK banks including Coutts, totalling nearly $740 million, The Guardian claimed in 2017.
It claimed around 500 people were involved including oligarchs, Moscow bankers and figures connected to the FSB.
And there are plenty more. Hypocrisy, - thy name is Coutts.
Pinochet
The former Chilean dictator Augusto Pinochet held an account with the US branch of Coutts among other banks, hiding $15 million (£7.8 million) in total across financial institutions. A US Senate subcommittee revealed in 2005 that the despot, responsible for the executions and forced disappearances of more than 3,000 people, had invested with Coutts & Co in Miami.
Mafia leader Emilio Di Giovine laundered nearly £2 million of cash through his Coutts account, according to the Guardian in 1999. The notorious boss of the Ndrangheta, one of Italy’s wealthiest crime syndicates, served eight years in jail in the1990s.
Hosni Mubarak, the former Egyptian president, and his sons were also clients within the same branch, The Guardian reported in 2016. Mubarak oversaw “systematic” violations of human rights by the security services in Egypt, according to Amnesty International, and was sentenced to a three-year prison term for embezzlement of public funds in 2014.
Russian money laundering with links to the Russian government and KGB was processed through UK banks including Coutts, totalling nearly $740 million, The Guardian claimed in 2017.
It claimed around 500 people were involved including oligarchs, Moscow bankers and figures connected to the FSB.
And there are plenty more. Hypocrisy, - thy name is Coutts.
The Wolfsberg Group is a non-governmental association of thirteen global banks. It started as a meeting of banks in 1999 who adopted a number of best practice standards under the name Wolfsberg Principles.
In May 2022, in the context of the 2022 Russian invasion of Ukraine the group suggested banks screen their bank customers for negative news stories, in order to assess their financial crime risk.
NatWest, while not a member of the Wolfberg Group, do use the Wolfberg Principles to assess their customers.
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In May 2022, in the context of the 2022 Russian invasion of Ukraine the group suggested banks screen their bank customers for negative news stories, in order to assess their financial crime risk.
NatWest, while not a member of the Wolfberg Group, do use the Wolfberg Principles to assess their customers.
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Nige on the Beeb last night
giving a face hell
She was giving him hell back and insisting a) the banks had unfettered autonomy as they know best b.it wasnt about him being a PEP c it was about something else too private to discuss
d. and when you debanked someone, really so what if he cant function financially thereafter?
giving a face hell
She was giving him hell back and insisting a) the banks had unfettered autonomy as they know best b.it wasnt about him being a PEP c it was about something else too private to discuss
d. and when you debanked someone, really so what if he cant function financially thereafter?
NatWest admitted it uses the Wolfberg Principles when it was defending a lawsuit from victims of Hamas in Israel.
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No it doesn't Peter. The law clearly doesn't stop banks doing as they wish. They can only investigate and bring charges after the fact.
Besides, it seems that the PEP theory has lost traction of late. Data reveal suggests it was deliberate woke behaviour unrelated to banking that was used as the excuse. And now Suella is apparently less than keen that someone who wants to control our borders and stop the boats can be branded "xenophobie" and have their bank account closed in the name of "inclusivity". Which is such of a surprise ! So government intends to stop this discrimination and victimisation.
Besides, it seems that the PEP theory has lost traction of late. Data reveal suggests it was deliberate woke behaviour unrelated to banking that was used as the excuse. And now Suella is apparently less than keen that someone who wants to control our borders and stop the boats can be branded "xenophobie" and have their bank account closed in the name of "inclusivity". Which is such of a surprise ! So government intends to stop this discrimination and victimisation.
It would seem Mr Farage has been vindicated of any wrong doing and Coutts have made unsubstantiated allegations against him as well as the BBC. This was always a 'woke' issue with Coutts and an affront to freedom of speech.
The government now realise the banks could be coming for them and have sat up and listened. Mr Farage has proved his point about a Macarthyist type state and congratulated the government on the fastest response he had ever experienced to bring in legislation to curb the banks powers. Well done Mr Farage.
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The government now realise the banks could be coming for them and have sat up and listened. Mr Farage has proved his point about a Macarthyist type state and congratulated the government on the fastest response he had ever experienced to bring in legislation to curb the banks powers. Well done Mr Farage.
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I you recall, I was first to break this story on AB 29th June, & got 474 replies, not a few of them from the left & Farage haters (you know who who you are!) attempting to trivialise the matter.
Considering the public outcry, media coverage, questions in the House and now promised legislation, I wonder what these guys have to say now.
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Considering the public outcry, media coverage, questions in the House and now promised legislation, I wonder what these guys have to say now.
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hi oh-Gee
They can only investigate and bring charges after the fact.
nope: shows the common ( and usual and normal for AB) confusion between criminal and civil banking
Nichty charges - there ARE rules of natural justice which are pretty damn weak.
here naughty naughty Coutts seems to have been saying - no moolah, then he is a PEP then oops he says things we dont like
(and that process, rather than content, may be unfair)
there is a power for the Nige to appeal to the CME - some sort governing regulator CFA? wh no one has mentioned
Times ed today: "Coutts is an integral an institution to British public life as any. It is now clear it is willing to discriminate against customers on political grounds, but to obfuscate, dissemble and mislead when challenged"
phew, i wonder how many ABers will read and understand THAT.
They can only investigate and bring charges after the fact.
nope: shows the common ( and usual and normal for AB) confusion between criminal and civil banking
Nichty charges - there ARE rules of natural justice which are pretty damn weak.
here naughty naughty Coutts seems to have been saying - no moolah, then he is a PEP then oops he says things we dont like
(and that process, rather than content, may be unfair)
there is a power for the Nige to appeal to the CME - some sort governing regulator CFA? wh no one has mentioned
Times ed today: "Coutts is an integral an institution to British public life as any. It is now clear it is willing to discriminate against customers on political grounds, but to obfuscate, dissemble and mislead when challenged"
phew, i wonder how many ABers will read and understand THAT.
//I wonder what these guys have to say now.//
Khandro
It was blatantly obvious that some posters on your post and this one were only driven by their personal bias and hatred for Mr Farages past comments. They had no interest how or why the banks closed accounts arbitrarily. They had no interest in fairness and justice and were too ignorant to understand that the banks could escalate and abuse their Macarthist regime if left unfettered and regulated. Mr Farage has won his dispute with the banks and as Mr Farage once said, 'They're not laughing now'. Sheeple obviously had never thought how they would, themselves, survive without an account denied to you for spurious reasons only known to themselves. How would you conduct your day to day domestic business or apply for a mortgage. I hope Mr Farage gets fair renumeration for the distress it may have caused but I am sure he didn't begin this campaign for money but to ensure the banks play the game and don't bow to 'wokeism'.
Khandro
It was blatantly obvious that some posters on your post and this one were only driven by their personal bias and hatred for Mr Farages past comments. They had no interest how or why the banks closed accounts arbitrarily. They had no interest in fairness and justice and were too ignorant to understand that the banks could escalate and abuse their Macarthist regime if left unfettered and regulated. Mr Farage has won his dispute with the banks and as Mr Farage once said, 'They're not laughing now'. Sheeple obviously had never thought how they would, themselves, survive without an account denied to you for spurious reasons only known to themselves. How would you conduct your day to day domestic business or apply for a mortgage. I hope Mr Farage gets fair renumeration for the distress it may have caused but I am sure he didn't begin this campaign for money but to ensure the banks play the game and don't bow to 'wokeism'.
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