Farage launches campaign against 'major national debanking scandal'

Nigel Farage said that he «is starting to get the impression that this is a lot more than any of us could imagine.» Photo: STEVE. FINN

Nigel Farage unveils a new website to help people who have lost their accounts in a 'major national debanking scandal' as former prime minister Liz Truss warns that the current system could discourage people from participating in politics.

In an exclusive interview with The Telegraph, Mr. Farage announced the launch of his campaign and website AccountClosed.org.

The former Ukip leader said he was «overwhelmed» by members of the public sending messages to him. own experience of being bankrupted after his Coutts accounts were closed due to his political views.

He said the website was aimed at quantifying the scale of the problem, finding the banks that are the «worst offenders» and identifying the top reasons why individuals and businesses were terminated.

«I'm starting give the impression that it is much, much more than any of us could have imagined,” he said.

“This is about the right to free speech, about a country where people are treated fairly at the age when you frankly can't function on a personal level, let alone a business level, without a bank account.»

Nigel Farage's bank account story

Mr. Farage said he was particularly concerned about «dozens» of reports from small businesses that their accounts were being closed because their banks did not approve of their cash trading volumes.

And also building a picture. He said that in this issue, AccountClosed.org could become «a really powerful lobbying group to go to parliament» and demand a review of the current financial services legislation.

The Telegraph understands that ministers are already considering plans that would require banks to notify some business account holders of termination at least 90 days in advance, as well as a clear example of why accounts are being closed, reflecting the measures recently announced for personal accounts.

Writing for The Telegraph, Ms. Truss said she was «appalled» by the way Mr. Farage was treated and that «heads rolled legally» over the resignation of Peter Flavel, chief executive of Coutts, and Ladies Alison Rose, CEO of NatWest, her parent company.

Criticizing anti-money laundering directives dating back to the UK's EU membership, she said that the rules on «politically exposed persons» made «elected representatives automatically subject to additional suspicion», which could discourage people from entering parliament

«The inability to get a mortgage loan or open a new bank account … is unlikely to attract many new applicants to the ranks of potential future MPs,» she said.

Liz Truss said she was «appalled» by the way Nigel Farage was treated. claims it has become overly politicized.

The Telegraph reported that more than 1,400 UK companies are members of B Corp, the corporate diversity scheme that played a role in Coutts's musings about whether Farage should 'get out'.< /p>

Ms. Truss said: «We are increasingly seeing aspects of leftist ideology and some of the cultural obsessions of the left infiltrate big corporate business.»