BANKS should be stopped from closing accounts of politicians and their families without explanation, according to the prominent Conservative MP Sir Charles Walker.
Commenting on Nigel Farage’s accounts being closed, Sir Charles said it has been happening to other politicians in recent years.
He told GB News: “We should be concerned, banks have been closing the bank accounts of politicians now for about six or seven years with very little reason to do so. This is just a continuing trend.
“These money laundering rules were brought in by the EU in 2015 and we implemented them into law in 2017, we thought with safeguards, but money laundering rules were really meant to go after despots in corrupt economies and countries.
“They were never designed to go after members of parliament, members of the House of Lords and more particularly their children and grandchildren. But the banks have been gold-plating the legislation and they’re not obliged to let you know why they are closing your bank account or refusing your bank account.”
In a discussion with Andrew Pierce and Bev Turner, he continued: “You can complain to the FCA, you can complain to the ombudsman, and when banks have been found to be acting unreasonably they can be subject to a compensation claim, but this just simply isn’t working.
“I don’t know why banks are sort of turning their face to it. And the situation is getting progressively worse. I mean, I know of backbench members of parliament who’ve never held any ministerial office at all being refused mortgages and having their bank accounts closed purely because they are members of parliament.
“The banks can do this with impunity because they literally can hide behind the tipping off law and say ‘no, we’re not allowed to tell you why we’re closing your bank account because you could be under investigation’, which normally isn’t the case.“
He added: “It doesn’t discriminate between Conservative members of parliament or say Labour members of parliament and the situation for Labour members of parliament will become more apparent, dare I say worse, if they were to win the next general election and they would form the government and hold ministerial office because obviously they would come on to closer close to scrutiny – unfairly, might I say.”
