Comments by "julian shepherd" (@julianshepherd2038) on "Jess Phillips, Katherine birbalsingh and Nigel farage" video.

  1. Coutts, and the NatWest group that owns it, regards Farage as what’s called a “politically exposed person”, or PEP, as well as an undoubtedly high net worth individual. Under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, a bank must take adequate measures to establish the source of wealth and source of funds of the PEPs on their books. This is because PEPs, being powerful or influential figures, may be subject to offers of bribes or unusually prone to other corruption and, thus, must be placed under extra vigilance and supervision by any financial institution they have dealings with (and this may also apply to family and close associates). It’s a matter of law, and it’s supposed to apply to all PEPs.
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