Callistemon213
*Merion Fri 26-Jul-24 10:47:56*
So it was Wise? It's not a bank, it's a financial service.
(Just got home, haven't read all the posts).
I use Wise, found them prompt and efficient for moving money and cheaper than bank transfers. Mind you, I don't send vast sums, just birthday money etc.
We can debunk everything, then.
Wise’s policy on PEPs or people connected to PEPs is clear:
wise.com/help/articles/2978067/whats-a-politically-exposed-person-pep
As a regulated financial institution, sometimes we need to confirm some details about you before we can complete your transfer. We’ll need to know if you’re a Politically Exposed Person (PEP) or connected to someone who is.
We typically consider you connected to a PEP if you’re related to them, or work with them. Here are some general guidelines:
•you’re their spouse, or civil partner
•you’re their child
•you’re their child’s spouse or civil partner
•you’re their parent
•you’re their sibling
•you have joint beneficial ownership of a legal entity, or a legal arrangement, or any other close business relationship with a PEP
•you have sole beneficial ownership of a legal entity, or a legal arrangement that is set up for the benefit of a PEP
What happens once I've been identified as a PEP?
We’ll review your account according to the regulatory requirements. We may get in touch to ask for more information and documents — for example, your proof of income, tax returns, and bank statements.
Wise asked Farage junior if he was the son of Farage senior (who is a PEP). He said he was. So they asked for bank statements in accordance with their policy. He declined on the grounds that they were asking for information on his account with them that they already had.
Wise isn’t a bank just an electronic money transfer facility. They must have been asking for statements from banks, wherever Farage junior does his other transactions.
This all sounds like a misundertanding that Farage has been happy to exploit because of what happened with Coutts.