Nigel Farage has said this morning that he is seeking legal advice after accusing Coutts, a prestigious private bank, of sharing his banking details with the BBC.
Farage’s account with the bank had been closed earlier this month after Coutts said they no longer wanted him as a customer.
The GB News presenter uploaded a video to his personal YouTube account this morning, where he gave an update on the banking scandal.
Farage said he was shocked when he found out that Coutts had told the BBC that he had fallen below the one million pound current account limit.
Farage was shocked when he found out Coutts had given his details to the BBC
GB News
He said: “Quite why a bank thinks ethically or legally they can discuss anything about my financial affairs with the BBC and a wider audience is totally and utterly beyond me."
He added that the scandal prompted many people to come forward saying they had an account with Coutts, whilst being below the one million pound current account limit.
According to their website, the bank says it requires clients to have at least £1million in investments or borrowing, or £3million in savings.
Farage said that this proved that the system was arbitrary.
Farage said his account was closed due to him being a politically exposed person (PEP)
GB News
The presenter also said that Coutts closed down his account due to him being a “politically exposed person”, or PEP.
PEP was brought into law following directive 2015/849 of the European Parliament and of the Council.
He revealed that nine UK clearing banks have rejected him and his lawyer have also claimed he is classed as a PEP.
He said: “I’m beginning to think there is no hope of getting a full UK clearing bank to give me an account”.
Farage blamed the EU directive for closing PEPs’ accounts.
In the video, Farage says that many small businesses have been forced to close down as a result of the directive.
He said: “Anybody involved in cash businesses have been losing accounts because they’re suspected of being money launderers.
“The law needs to be revised, not just for high profile public figures who are PEPs, but for everybody. Ordinary men and women running their own businesses trying to do their best. They are being penalised in the most extraordinary way.”
Farage applauded GB News’ ‘Don’t Kill Cash’ campaign to protect the status of cash as legal tender.
“Controlling people’s money would be the ultimate form of tyranny,” he said.
Farage revealed he had been putting in subject access requests to all the international agencies that the banks go to.
Coutts told GB News it does not comment on individual cases.
