Again, you are not answering the question.

We all know that PEPS are regularly monitored, that's not the issue.

As NE14T suggests, any PEPS ' debanked ' for reasons other than Financial Crime suspicions should be explained.

Old, Ungifted and White

Fine. Let that be a regulation. It isn't now. That's the point.

For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally.

Well it seems niello has the contacts to do just that, you don’t so maybe unfriending him has backfired

Let's cut through the crap.

A bank can currently close an account if it wants to.

In this example, a purple haired woman closed his account because of who he is and his politics. This you describe as a reputational risk.

If banks continue to be allowed to do this, then there is no real limit on whose accounts can be closed or why they are closed.
This could lead to a whole section of society having their accounts closed arbitrarily by the decision of an individual or individuals because they are considered a risk.

Since bank accounts are becoming increasingly necessary in order to function in society, this would be catastrophic for the individuals concerned and all caused simply because of things such as their politics, who they associate with or any number of other behaviours that are normal in a free country.

The only answer therefore is to make it a human right to have a bank account, and for anyone closing accounts on the basis described to be prosecuted.

Some things are even more important than business and the right to a life without persecution, corporate or otherwise, should be one of them.

I would agree to make it a legal obligation for banks operating in the UK to provide banking facilities to legal residents of the UK. As a human right , no way.

Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.

There is nothing shown so far that the thousands of debanked were PEPs. Many seem to be just folk who disagreed with something like pronoun policy or similar.

PEPs are just the tip of the iceberg

Edited by HKOwen (01 Aug 2023 10.23pm)

Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.