Farage ‘debanking’ scandal prompts complaints about financial companies

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Financial Times 13h ago

Farage ‘debanking’ scandal prompts complaints about financial companies - Financial Times

Quick Summary:

The challenge for banks and insurers in responding to DSARs lies in sourcing the information — which can be scattered around different systems — and then presenting it in a readable way, while leaving out information that may breach anti-financial crime regulation.

The watchdog received 1,874 complaints about finance, insurance and credit companies’ handling of DSARs during the period, up from 1,622 the previous year.

This type of request was thrust into the limelight last year when Farage used a DSAR to obtain a 40-page dossier from Coutts that revealed its reputational risk committee had accused him of “pandering to racists” and being a “disingenuous grifter”.