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The Latest Breaking News on What is money laundering? Financial Conduct Authority targeted hundreds of businesses last year

What is money laundering? Financial Conduct Authority targeted hundreds of businesses last year

In recent years, the regulator has penalised banks for money-laundering offences in a number of high-profile cases

Evening Standard

Cap on bankers' bonuses scrapped as Tories bring back Liz Truss policy

THE UK Government has revived a policy from the short-lived Liz Truss administration and will scrap the cap on bankers’ bonuses, according to…

The National (Scotland)

More than 20 Scottish businesses fined for money laundering breaches - see the list

MORE than 20 Scottish businesses have been handed fines totalling £96,000 for not complying with money laundering laws in the past three years,…

The National (Scotland)

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City watchdog to contact MPs and other PEPs to ask if they have been debanked

Inquiry aims to find out extent of denial of banking services to politically exposed persons such as politicians and army leaders

The Guardian - UK

Nigel Farage can bank with us, boss of London fintech Pockit says as it unveils $10 million raise

The boss of a London fintech has said Nigel Farage would be able to open an account with them after it unveiled a fresh $10 million funding round.

Evening Standard

Jeremy Hunt requests inquiry into ‘debanking’ of politicians

Chancellor wants Financial Conduct Authority to investigate whether practice is ‘widespread’

The Guardian - UK

Debanking poses threat to free speech, Jeremy Hunt says as he asks regulator for probe

The Chancellor has asked the Financial Conduct Authority to look into account closures and report back to him next month

Evening Standard

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Don’t be fooled: this row is about more than Nigel Farage and Coutts – what lies beneath is Brexit

Why have Tories and a beleaguered PM fought this battle so fiercely? Because the ex-Ukip leader embodies leave and they fear him, says Guardian columnist Martin Kettle

The Guardian - UK

Farage account closure risks ‘undermining efforts to tackle financial crime’

THE UK Government risks undermining money laundering rules if it makes knee-jerk decisions after Nigel Farage’s bank account closure, experts say.

The National (Scotland)

Forget Nigel Farage and Coutts – banks have been locking ordinary people out of accounts for years

This is a rich person’s row. But as a debt adviser, I’ve seen clients’ lives upended when they are denied access to a basic bank account, says debt adviser Amy Taylor

The Guardian - UK

City minister summons UK bank bosses to discuss Farage account closure

Andrew Griffith raises ‘significant concern’ after Coutts judged ex-Ukip leader ‘did not align’ with its values

The Guardian - UK

Credit cards: new UK rules could mean end of O% interest deals

Regulations could allow wider access to online-only bank accounts – but no-fee balance transfer deals may have to go

The Guardian - UK

UK financial regulator faces probe into its effectiveness

The ability of the UK’s financial regulator to do its job is set to come under close scrutiny in a new probe.

Evening Standard

OPINION - Banks should get their houses in order before policing us

When was it, do you think, that banks stopped being institutions that kept your money and started being guardians of public morality? Time was, I would get hauled into the Berkeley Square branch of the Allied Irish Bank (GB) to explain my overdraft situation; now bank managers have disappeared along…

Evening Standard

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The Week

Nigel Farage: was former UKIP leader cancelled by Coutts?

Cancel culture, already the blight of British universities, seems to be creeping into banking, said The Daily Telegraph.

Evening Standard

London’s financial dominance is under siege

City Voices: There’s a growing narrative that London is closing the door on business and our institutions are doing nothing to counter it. This vacuum is being filled by influential executive public anger.

Insider UK

Global economy not on the cusp of another 2008 - Bank of England governor

The UK’s economy showed no growth in February, narrowly avoiding a recession despite decades-high inflation

Evening Standard

If London wants to lead on crypto trading, we’ll need better rules

City Voices: London can’t just stand still. Can crypto be the way forward?

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The Independent UK

Banking system ‘safe’ says Downing Street – but job losses loom at Credit Suisse

Credit Suisse employs around 5,500 people in the UK

Evening Standard

OPINION - The Standard View: Silicon Valley Bank rescue a relief to London’s tech sector

It seems to be a neat solution to a worrying few days for London’s vital tech industries. HSBC has bought the UK subsidiary of Silicon Valley Bank (SVB) following its collapse on Friday. SVB, which specialised in providing loans to technology firms, was closed down by US regulators last week…

The Guardian - UK

UK racing to secure deal to protect firms from Silicon Valley Bank collapse

Rishi Sunak and Jeremy Hunt explore options to help tech and life sciences sectors

The Independent UK

More than 200 UK firms at ‘serious risk’ from Silicon Valley Bank collapse

Government ‘working at pace’ to limit damage, says chancellor

The Independent UK

Tory minister suggests banks sue Bank of England over strict regulations

Andrew Griffith made the suggestion in a discussion with banking representatives

Insider UK

Bosses of major banks defend branch closures

In a Treasury Committee hearing they also denied relying on customer account switching inertia

The National (Scotland)

Post-Brexit 'bonfire' risks driving further price rises, warn campaigners

A POST-BREXIT “bonfire of banking rules” planned by the UK Government risks driving up food and energy prices even further, campaigners have…

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