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Comment: UK banks shutting 1,000 accounts a day is explained by crime controls, not politics

By Phoebe Seers and Martin Coyle ( July 31, 2023, 16:27 GMT | Comment) -- Data that shows banks in the UK are closing around 1,000 accounts a day has been met with outrage by critics arguing that controversial figures are being shut out by “woke” banks because of their political views. But the charge doesn't stick when rocketing fraud levels in the UK are factored in, along with a crackdown by the financial services regulator on banks not fulfilling their account monitoring obligations. Data that shows banks in the UK are closing around 1,000 accounts a day has been met with outrage as critics line up to condemn the institutions for orchestrating “political ethnic cleansing” in the way they choose who should be able to access financial services. ...

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