Richard Tice said a close relative was asked about his mother's will after her death to “prove the source of funds.” Photo: Guy Bell/Shutterstock
Richard Tice has told how a close relative was ordered to produce cash from her mother's will because she is related to him.
UK reform leader says demand is “emotionally intrusive” was the latest example of banks targeting the families of politicians.
It comes after a number of peers said their children had been denied bank accounts because their parents sit in the House of Lords.
Ministers have vowed to review rules on “politically exposed persons” due to concerns that they were being abused by financial institutions.
Mr Tice said a close relative was asked about his mother's will to “prove the source of funds” after her death a couple of years ago.
< p>He added: “It's quite emotionally intrusive when a bank is going to ask for a copy of a deceased person's will to see where the money came from.”
“I think this is absolutely outrageous and the banks are completely misinterpreting the intent of the law.”
A UK reform leader has warned that its impact on families “will mean smart and successful people will avoid getting involved in public life and politics “.Nigel Farage said Coutts closed his account because of his political views. Photo: Reuters/Hollie Adams
Andrew Griffith, the economic secretary of the Treasury, called on the Financial Conduct Authority (FCA) to speed up its investigation into how banks apply the rules.
The government also plans to scrap EU-era rules that mean British politicians should be treated as foreigners posing the same money laundering risk.
This comes after he revealed how a bank refused to give him a business loan last year due to reputational risk given his leadership of UK reform.< /p>
Mr Theis applied to Swiss Re for a business loan last April. loan for his Quidnet REIT business.
Internal bank documents he obtained at the request of the subject of access show he was denied the loan due to “reputational risk.”
They said : “The CEO of Quidnet is Richard Tice, a former Member of the European Parliament for East Anglia. He is now the leader of Reform UK.”
The FCA is launching an investigation.
Nigel Farage, Mr Tice's predecessor in the UK, lifted the lid on the banks' behavior when he revealed that Coutts had closed his account because their political views.
Amid these revelations, the FCA has launched an investigation into account closures, and ministers have vowed to tighten rules if necessary.
Downing Street is even considering threatening banks with their licenses revoked if they do so. people's bank accounts based on their opinions.