Home Secretary Yvette Cooper has called on the College of Policing to clarify whether banks should report customers to law enforcement based on their political opinions. This follows the controversy surrounding Nigel Farage's account closure at Coutts.
In a letter seen by The Independent, Cooper expressed concerns about potential "political profiling" in banking decisions. She questioned whether financial institutions are required to flag customers to authorities simply for holding certain views.
The Farage Banking Controversy
The row erupted when former UKIP leader Nigel Farage claimed Coutts closed his account due to his political stance. Subsequent documents appeared to confirm his allegations, showing the bank's "reputational risk" assessment cited his views.
Cooper's intervention comes amid growing scrutiny of how banks handle politically exposed persons (PEPs) and whether current regulations inadvertently enable viewpoint discrimination.
Police Involvement Under Scrutiny
The Home Secretary has demanded answers on:
- Whether banks must report customers based on political affiliations
- What training police receive about handling such reports
- Protocols for distinguishing between legitimate concerns and political profiling
This development raises fundamental questions about free speech, banking transparency, and the appropriate boundaries between financial institutions and law enforcement in democratic societies.
