Nigel Farage Explores Criminal Case Against NatWest Over 2023 Debanking Scandal

The Reform UK leader has instructed legal counsel to investigate potential criminal proceedings against the banking group after the closure of his accounts sparked a national controversy.

• Nigel Farage has directed lawyers to examine grounds for a private criminal prosecution against NatWest Group over the closure of his accounts with its subsidiary, Coutts, in 2023.
• The debanking controversy led to the resignation of Dame Alison Rose, NatWest's former CEO, after it was revealed that political factors influenced the decision to close Farage's accounts.
• Farage alleges the incident caused reputational damage and is pursuing separate civil proceedings, with potential damages amounting to millions of pounds.
• NatWest initially cited commercial reasons for the account closures but later acknowledged shortcomings in its handling of the case, including breaches of client confidentiality.
• The government is on track to fully privatize NatWest by summer 2025, with its stake now reduced to under 7%, as the bank reports strong financial performance.

3 Articles

The Independent The Telegraph Sky News