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Coutts VS Nigel Farage

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Yellow Card - User has been warned of conduct on the messageboards SW19 CPFC Flag Addiscombe West 06 Aug 23 11.40pm Send a Private Message to SW19 CPFC Add SW19 CPFC as a friend

Originally posted by Hrolf The Ganger

If you think that Trump's charges are anything more than the misuse of law courts to damage him, then you are bonkers.

You clearly need to pay more attention to the real world.

I mean, he definitely deserves some investigation based on available information and well documented behaviour/actions.

As for what’s trumped up and what’s not - I’m sure there’s extras thrown in for fun, one would be naive to think otherwise, but that doesn’t mean he shouldn’t be heading to trial for some of the things he did.

Taking a position that he’s completely innocent and any charges brought are baseless, well that sounds very parrot I mean partisan to me.

Maybe he banks at Coutts

Edited by SW19 CPFC (06 Aug 2023 11.41pm)

 


Did you know? 98.0000001% of people are morons.

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Tim Gypsy Hill '64 Flag Stoke sub normal 07 Aug 23 12.18am Send a Private Message to Tim Gypsy Hill '64 Add Tim Gypsy Hill '64 as a friend

Originally posted by Wisbech Eagle

Unsurprisingly you are another who seems incapable of grasping an important, if subtle, difference. Try again.

That's a bit too 'Ministry of Truth' for me. I can't accept that an opinion, whether controversial or otherwise, is not an opinion. Maybe I should volunteer to be taken to room 101...

 


Systematically dragged down by the lawmakers

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HKOwen Flag Hong Kong 07 Aug 23 1.21am Send a Private Message to HKOwen Add HKOwen as a friend

Originally posted by HKOwen

The cause of Farage being de-banked by Coutts was a decision by an internal committee.

The reason was senior managers at Coutts and Natwest want to be able to control the thinking and behaviour of customers, be moral arbiters and virtue signallers .

Simple as that

Posting a second time as worth saying twice

 


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.

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Yellow Card - User has been warned of conduct on the messageboards georgenorman Flag 07 Aug 23 6.34am Send a Private Message to georgenorman Add georgenorman as a friend

Originally posted by Wisbech Eagle

Of course, but we weren’t talking about them.

I doubt though too many were.. Somehow being racist AND stupid and objecting to immigration would more likely, in my opinion, attract someone to Leave than Remain.

Stupid alone, not so.

Just for clarification (it is always so difficult to know exactly what you mean) are you saying that some Brexit supporters voted to Leave because of their racism?

 

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Stirlingsays Flag 07 Aug 23 7.03am Send a Private Message to Stirlingsays Holmesdale Online Elite Member Add Stirlingsays as a friend

Originally posted by SW19 CPFC

I mean, he definitely deserves some investigation based on available information and well documented behaviour/actions.

As for what’s trumped up and what’s not - I’m sure there’s extras thrown in for fun, one would be naive to think otherwise, but that doesn’t mean he shouldn’t be heading to trial for some of the things he did.

Taking a position that he’s completely innocent and any charges brought are baseless, well that sounds very parrot I mean partisan to me.

Maybe he banks at Coutts

Edited by SW19 CPFC (06 Aug 2023 11.41pm)

It's political and unprecedented.

If you look at any president's actions you could bring them up on charges if you chose to......Indeed, if Trump wins you're going to see a lot of charges and heads rolling in power bases and they know it.

The fact that these cases have been designed to be ongoing while he'd be campaigning is one hell of a stretch to regard as a coincidence.

It's naked and as I've said, makes America look like a banana republic with air conditioning.


Edited by Stirlingsays (07 Aug 2023 7.04am)

 


'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen)

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Badger11 Flag Beckenham 07 Aug 23 7.48am Send a Private Message to Badger11 Add Badger11 as a friend

It has been suggested that a banks want to closed accounts of clients who are a PEP due to the costs of monitoring.

Sorry I don't buy that. Now PEPS came about after I left banking so I am speculating but I think I have a grasp of the issue.

The problem.
Banks are looking for suspicious activities relating to a PEP e.g. Farage gets a credit on his account from Russia, is it dodgy?

The solution.
Banks already have a system in place for monitoring sanctions I used to maintain it for my bank. So someone making a payment to Bin Laden would have that payment stopped until it had been checked out. If it was Bin Laden the payment would be seized if it turns out to be Joe Bin Laden who runs a chippy and shares a surname it would be released. (This would be a false hit).

When I used this technology it was about 20 years ago and since then we have AI which will be far more accurate.

I would be amazed if banks don't have a similar system for PEPS. An account would be flagged as a PEP so any activity would go through that verification system,

I would imagine that 99% of all transactions for that PEP would be automatically approved e.g. Utility bills / mortgage / loans / credit cards etc.

So the system would only be looking for transactions that are suspicious e.g. cash deposits, funds from a dodgy country etc.

So the amount of activity that needs to be checked out by a human on a daily basis I would imagine would be tiny. If the payment was regular and okay the person would have the option to approve that payment going forward. In other words a new PEP might at the start have a number of transactions flagged but that number would drop away as the banks okayed them and added them to a safe list.

So the argument that PEPS are costly so the banks don't want them I don't really buy into.

 


One more point

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Yellow Card - User has been warned of conduct on the messageboards Hrolf The Ganger Flag 07 Aug 23 8.05am Send a Private Message to Hrolf The Ganger Add Hrolf The Ganger as a friend

Originally posted by SW19 CPFC

I mean, he definitely deserves some investigation based on available information and well documented behaviour/actions.

As for what’s trumped up and what’s not - I’m sure there’s extras thrown in for fun, one would be naive to think otherwise, but that doesn’t mean he shouldn’t be heading to trial for some of the things he did.

Taking a position that he’s completely innocent and any charges brought are baseless, well that sounds very parrot I mean partisan to me.

Maybe he banks at Coutts

Edited by SW19 CPFC (06 Aug 2023 11.41pm)

I'm certain that the charges against Trump are purely for political purposes, whether he is actually guilty of them or not.
I'm also certain that any of us could be charged with something if someone tried hard enough to dig something up.

Donald Trump is a super wealthy businessman and former President. I'd be amazed if you couldn't charge any man like him with a number of things. I'd like to have a look in the closets of the people instigating all this.

 

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NEILLO Flag Shoreham-by-Sea 07 Aug 23 8.18am Send a Private Message to NEILLO Add NEILLO as a friend

Originally posted by Badger11

It has been suggested that a banks want to closed accounts of clients who are a PEP due to the costs of monitoring.

Sorry I don't buy that. Now PEPS came about after I left banking so I am speculating but I think I have a grasp of the issue.

The problem.
Banks are looking for suspicious activities relating to a PEP e.g. Farage gets a credit on his account from Russia, is it dodgy?

The solution.
Banks already have a system in place for monitoring sanctions I used to maintain it for my bank. So someone making a payment to Bin Laden would have that payment stopped until it had been checked out. If it was Bin Laden the payment would be seized if it turns out to be Joe Bin Laden who runs a chippy and shares a surname it would be released. (This would be a false hit).

When I used this technology it was about 20 years ago and since then we have AI which will be far more accurate.

I would be amazed if banks don't have a similar system for PEPS. An account would be flagged as a PEP so any activity would go through that verification system,

I would imagine that 99% of all transactions for that PEP would be automatically approved e.g. Utility bills / mortgage / loans / credit cards etc.

So the system would only be looking for transactions that are suspicious e.g. cash deposits, funds from a dodgy country etc.

So the amount of activity that needs to be checked out by a human on a daily basis I would imagine would be tiny. If the payment was regular and okay the person would have the option to approve that payment going forward. In other words a new PEP might at the start have a number of transactions flagged but that number would drop away as the banks okayed them and added them to a safe list.

So the argument that PEPS are costly so the banks don't want them I don't really buy into.

I explained same earlier in this thread but it didn't stop WE continually claiming that monitoring what is now a Low Risk PEP account was expensive and a potential reason for closure.

Worth adding that these monitoring processes are often carried out in a low cost centre - for NatWest Group I suspect they use the centres they have in Poland and India. I've plenty of experience working with both.

 


Old, Ungifted and White

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Wisbech Eagle Flag Truro Cornwall 07 Aug 23 8.19am Send a Private Message to Wisbech Eagle Add Wisbech Eagle as a friend

Originally posted by Tim Gypsy Hill '64

That's a bit too 'Ministry of Truth' for me. I can't accept that an opinion, whether controversial or otherwise, is not an opinion. Maybe I should volunteer to be taken to room 101...

I really don’t see why. I wasn’t talking about holding any opinion, whether controversial or even plain daft. I was talking about understanding a nuanced and quite subtle difference between two words and the motivations that each implies.

 


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.

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Badger11 Flag Beckenham 07 Aug 23 8.19am Send a Private Message to Badger11 Add Badger11 as a friend

Originally posted by NEILLO

I explained same earlier in this thread but it didn't stop WE continually claiming that monitoring what is now a Low Risk PEP account was expensive and a potential reason for closure.

Worth adding that these monitoring processes are often carried out in a low cost centre - for NatWest Group I suspect they use the centres they have in Poland and India. I've plenty of experience working with both.

Thanks sorry I didn't see your post.

 


One more point

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Wisbech Eagle Flag Truro Cornwall 07 Aug 23 8.38am Send a Private Message to Wisbech Eagle Add Wisbech Eagle as a friend

Originally posted by NEILLO

I explained same earlier in this thread but it didn't stop WE continually claiming that monitoring what is now a Low Risk PEP account was expensive and a potential reason for closure.

Worth adding that these monitoring processes are often carried out in a low cost centre - for NatWest Group I suspect they use the centres they have in Poland and India. I've plenty of experience working with both.

I didn’t suggest it is expensive. I suggested that the costs involved for a highly exposed PEP could be a factor in a bank’s reasoning. Who knows, other than the bank itself, what in 2023, they regard as relevant.

Nobody here knows what the elements were that resulted in Coutts deciding to review Farage’s account status, whether this was treated in the standard way or whether his high public profile meant he was given a different level of attention. I respect the fact that you, and others, have more experience of banking practice than myself and find the descriptions interesting and informative. These alone though cannot tell the whole story, which none of us actually know. What we do know, and have agreed on, is that whatever happened, whether stupid, irritating or appearing to be unfair, it was the bank’s decision to make it.

 


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.

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Wisbech Eagle Flag Truro Cornwall 07 Aug 23 8.41am Send a Private Message to Wisbech Eagle Add Wisbech Eagle as a friend

Originally posted by HKOwen

Posting a second time as worth saying twice

Posting it 100 times wouldn’t make it correct!

 


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.

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