Financial Services Financial Services

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

By Phoebe Seers and Martin Coyle
  • 31 Jul 2023 17:27
  • 31 Jul 2023 17:33
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. 
The argument goes that controversial

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Phoebe Seers


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

Martin Coyle

Senior Correspondent

Martin Coyle is a senior correspondent, based in MLex's London office, reporting daily on bribery and corruption issues in the UK and Europe. Previously he was a senior editor at Thomson Reuters where he covered anti-money laundering, financial crime and regulatory enforcement issues. Prior to that he was editor of The Accountant, the world's oldest accounting publication, and International Accounting Bulletin, a bi-monthly business journal owned by Lafferty.

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