Sunday, October 19, 2014

Peers complain banks treat them 'like pariahs'

From the BBC: "Members of the House of Lords have complained they are treated like "deposed dictators or political pariahs" when they try to open bank accounts."

Peers said they were falling foul of money-laundering regulations because banks classed them as high-risk "politically exposed persons". 
This makes them, and their relatives, subject to extra due diligence checks. 
Treasury Minister Lord Deighton said banks were acting "disproportionately". 
He said UK parliamentarians were not currently classed as politically dependent persons, which are restricted to members of foreign governments, but added that new global standards "will require that they are treated as such".
 I know a few people who can relate to this feeling.

1 comment:

  1. I will also add as a piece of advice to the political left that stories such as this one will only make citizens feel that the views expressed by the man in the linked video below are just and proper.