The UK's Latest "Debanking" Scandal Should Give Everyone Pause
4 hours ago
- #Financial Censorship
- #Independent Media
- #Debanking
- Nigel Farage's bank account closure by Coutts sparked the 'debanking' scandal in 2023, leading to media backlash and senior banking executives resigning.
- The Canary, a left-wing news website, was debanked by Lloyds Banking Group, speculating it was due to its anti-Zionist and pro-Palestine stance.
- UK government initiatives include a National Security Law that threatens journalism by prosecuting those who quote designated entities.
- Banks plan to share customer data to prevent debanked individuals from opening new accounts, potentially locking them out of the financial system.
- Scott Ritter, a former UN weapons inspector, was debanked in the US without explanation, suspecting FBI involvement.
- Debanking extends to 'civil death,' as seen with UN Special Rapporteur Francesca Albanese, sanctioned and cut off from banking and travel.
- EU sanctions have targeted journalists like Hüseyin Doğru and Jacques Baud for ideological reasons, with no legal recourse available.
- Digital currencies and IDs could automate debanking, with the digital euro being approved amidst media silence.
- Historical instances include PayPal freezing accounts of Free Speech Union and WikiLeaks, and banks targeting porn industry workers.
- The trend of debanking started with Muslim activists and Pro-Palestinian groups, but gained attention only after affecting figures like Farage.