MPs demand answers over closure of bank accounts
23 Jul 2021

MPs are investigating banks over complaints that the accounts of innocent customers have been closed during a crackdown on money laundering.

Mel Stride, chairman of the Treasury select committee, has written to Nikhil Rathi, chief executive of the Financial Conduct Authority, raising concerns over reports of account closures at NatWest and other banks.

The Sunday Times revealed this month how 5,500 NatWest customers had complained that their accounts had been shut without warning. Last week The Times reported that the FCA had written to chief executives of big banks over concerns their money laundering checks were not rigorous.

By Imogen Tew, The Times, 23 July 2021

Read more at The Times

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