Laura

new account because I’m locked out of my other one 😬 Villa. 💜💙Beer. 🍻Sleep. 😴 my views are my own

[Laura @Laura_avfc1874]

That’s my girl 👍🏻💙

[Holte71 🏴󠁧󠁢󠁥󠁮󠁧󠁿 🦁 💜💙 @Holte121971]

Spurs fans. That's your 4th red card this season for yet another despicable challenge. Do not come back at me for that tackle from Matty Cash. Get your own house in order.

[Laura @Laura_avfc1874]

@chappersavfc Really hope he does well but glad he’s off the wage bill.

[Laura @Laura_avfc1874]

@theavfcfaithful Nevermind. I just saw that they’ve paired it with blue shorts. It looks like pyjamas now.

[Laura @Laura_avfc1874]

@theavfcfaithful I like it. Will look nice with (hopefully) claret shorts and blue socks 🤞🏻

[. @jdpoc]

That moment, when Tory Twat MP Lee Anderson, concedes that forced emigration to #Rwanda, is actually, a punishment.

he really didn’t think this one through.

[Richard Burgon MP @RichardBurgon]

British Gas has just announced profits of £969,000,000

That's up TEN-FOLD on last year.

They're lining their pockets while you pay higher bills.

As the world burns and energy bills soar, we need an energy system under public ownership, run for people and planet - not profit.

[Laura @Laura_avfc1874]

@MartinSLewis Yep! Mine went up by over £200, I’m over 40, female and have never claimed or been in an accident - voted with my feet by finding a cheaper quote.

[Laura @Laura_avfc1874]

@Trossardinho1 @0spina25

[Laura @Laura_avfc1874]

@8forClark @FabrizioRomano Cracking signing, by all accounts. Good window so far!

[Xander Parke @xndrprk17]

Xander Parke Highlights 2022/23
Goalkeeper
Shrewsbury Town (22/23)
St Kitts and Nevis (22/23)

https://t.co/O1DeHVTJpv

Please retweet or share around!!

[Laura @Laura_avfc1874]

@talkSPORT As a Villa fan, I’d have happily seen Young have another season with us as a backup option - he was really good last season, probably played more than he expected which showed as fatigue come end of season but can still do the job

[Laura @Laura_avfc1874]

@villareport 💜🩵💜🩵

[Laura @Laura_avfc1874]

Thought I’d give it a go. Villa fans I’d love to stay connected after the death of Twitter! 😜 https://t.co/zgib8wSZN6

[Luke Robinson @lukerobinson89]

If your looking for somewhere new to talk about Aston Villa, I've created a Discord server called Aston Villa.

Click the Link to join, I've never used the app before so bare with 👇🏻

https://t.co/HwGuJledQ4

[Laura @Laura_avfc1874]

@mattletiss7 New levels of stupid from someone I actually admired growing up. You, not anybody else on here, are aware of the reasons behind this and banks do not take these decisions lightly. Though perhaps association means more to you than reputation?

[Laura @Laura_avfc1874]

@LozzaFox @Nigel_Farage I can guarantee this will never be me, as I don’t accept donations from oligarchs, nor failed money laundering checks
Unless you know WHY they’re kicking him out, I’d shut up and wait and see what the reasons are, typically the chinless frog is not actually talking facts, is he?

[Mark Kieran - Democracy Activist @MarkKieranUK]

Nigel Farage claims he may be forced to leave the UK because his bank of 30+ years has decided it no longer wants his business, and no other bank will take him on.

He says it's pure persecution...the Remainer Elite taking revenge for his role in delivering Brexit. But there's a bit more to it than that. Needless to say, Farage is being more than a little economical with the actualité.

He DOES admit to being a Politically Exposed Person (PEP), as defined by the Financial Action Task Force, an international body established in 1989 to set international standards for countering money laundering and terrorist financing.

He should not be surprised, then, that as a result, his bank is obliged by UK law - the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 - to carry out robust due diligence on him and his banking activities.

From what Farage has said, it appears that the bank has done this due diligence and concluded that he represents a level of risk they cannot tolerate.

So, why might that be?

Well, the main reasons a bank might close a PEP’s accounts are:

Suspicion of Money Laundering or Other Illegal Activity: This is the most common reason for closing a PEP's account. This can result from unusual transactions, particularly those involving large sums of money or transactions that do not match the account holder's typical behaviour.

Failure to Comply with KYC/AML Regulations: All banks are required by the Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to carry out strict checks on their customers. If a PEP fails to provide the necessary documentation or information, or if the information provided raises concerns, the bank may choose to close the account.

Reputational Risk: By their very definition, PEPs are under public scrutiny, and any scandal associated with them can potentially harm the reputation of the bank. If a PEP becomes involved in a public scandal, especially one involving financial wrongdoing, a bank may decide to close an account to protect its own reputation. (Perish the thought that Farage would ever be involved in a public scandal!)

Regulatory Pressure: Sometimes, banks face pressure from regulators to sever ties with certain PEPs, particularly in scenarios involving international sanctions, corruption charges, or other high-profile legal issues. Bad as he is, Farage probably doesn’t quite fall into this category. Yet.

Business Risk: Banks also need to consider the business risk of maintaining the account. If the costs and risks associated with maintaining and monitoring the account outweigh the potential benefits (e.g., due to high compliance costs or the risk of fines for non-compliance), the bank may decide to close the account.

Given the limited amount of actual information in Farage’s theatrical outburst, it’s impossible to know which, if any, of these was behind his bank’s decision. But none of them seems like particularly good news for him, so it'll be worth keeping an eye on how things unfold...especially if it looks like he might feel the need to emigrate as a result of it all. (Will he take a small boat to France, I wonder?)

[END]

[Laura @Laura_avfc1874]

@EssexPR No, I don’t believe we are. I do however think that banks have the right to investigate where sufficient sums of money come from. It’s written within policy, and he knows it. He’s just covering himself early

[Laura @Laura_avfc1874]

@Adrian_Hilton @Nigel_Farage That’s enough Twitter for today.