- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-09-21T19:05:00
The furor over NatWest Group’s decision to monitor and close the account of right-wing Brexit campaigner Nigel Farage—and then disclose the details to a journalist—has raised questions regarding whether other banks employ the same means to get rid of undesirable customers.
The answer is “no,” said the U.K.’s Financial Conduct Authority (FCA).
In a report published Tuesday, the regulator said no firm closed a personal account between July 2022 and June primarily because of a customer’s political views—a practice that is banned under the U.K.’s Payment Accounts Regulations.
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2023-11-16T15:54:00Z By Neil Hodge
Just because Alison Rose received a public apology from the U.K. Information Commissioner’s Office regarding the suggestion she might have violated the General Data Protection Regulation doesn’t mean NatWest could avoid sanction.
2023-10-27T17:17:00Z By Kyle Brasseur
An independent review into how NatWest handled the closure of politician Nigel Farage’s Coutts account uncovered potential regulatory breaches by the bank that are on the radar of the U.K. Financial Conduct Authority.
2023-10-11T20:21:00Z By Adrianne Appel
Holding on to data for longer than necessary creates vulnerabilities for businesses by giving cyberattackers more avenues to access an organization’s computer systems.
2025-03-10T20:56:00Z By Adrianne Appel
The public reported a 25 percent increase in losses–totaling more than $12.5 billion in 2024–to investment scams, tech rip-offs, and general fraud, according to an analysis by the Federal Trade Commission.
2025-01-08T17:13:00Z By Jeff Dale
Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão “with just cause” after an internal probe discovered “suspicious financial transactions” in his sphere.
2024-12-30T14:57:00Z By Aaron Nicodemus
A prominent risk management firm has issued its predictions for the top five risks for business in 2025, along with guidance for how organizations should prepare and respond.
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