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The UK's Latest "Debanking" Scandal Should Give Everyone Pause
The debanking of Nigel Farage by Coutts Bank three years ago brought the issue to public attention, leading to resignations and a significant financial hit for Natwest. This incident highlighted a growing trend of banks closing accounts of individuals and organizations with politically inconvenient views. Critics argue that banking is a fundamental utility, and its use for censorship and repression is concerning. Despite an inquiry concluding no political motivation, debanking has continued, with plans to share data on "debanked" customers, potentially locking them out of the financial system. The left-wing news website The Canary recently experienced debanking from Lloyds Banking Group, suspecting it's linked to its pro-Palestine stance. This occurs amidst the UK government's new National Security Law, which critics fear could stifle journalism and dissent, particularly concerning coverage of pro-Palestine activism. The law is described as a power grab, potentially leading to prosecution for quoting designated groups. The Canary's debanking is viewed as an attack on independent media that doesn't align with the government's narrative. Previously, the British Muslim community, especially pro-Palestinian activists, faced similar debanking without mainstream media attention. Bank account closures in the UK have dramatically increased in recent years. In the US, Scott Ritter, a critic of Western imperialism, also had his accounts closed by Citizens' Bank without explanation. Banks cite confidentiality laws for not disclosing reasons, but this may conceal investigations. Ritter suspects his donations and travel to Russia triggered a Suspicious Activity Report, leading to his debanking. The practice of debanking is seen as a tool to harass targeted individuals, even without evidence of criminal activity.