Britain's BBC apologises to Nigel Farage over bank account closure story
Reuters
Published Jul 24, 2023 17:57
By Sachin Ravikumar
LONDON (Reuters) - Britain's BBC has apologised to Nigel Farage over a story it ran on the closure of his accounts at NatWest's private bank Coutts, which the former Brexit Party leader had said was the result of his political views.
The BBC had previously reported Farage falling below the financial threshold required to be a customer at Coutts - whose website advises its clients should be able to borrow or invest at least 1 million pounds ($1.28 million) with the bank or hold 3 million pounds in savings - was the reason for the closure.
But an internal review of the bank account obtained by Farage showed the private bank's wealth reputational risk committee had said his values did not align with the bank's own.
"We acknowledge that the information we reported - that Coutts' decision on Mr Farage's account did not involve considerations about his political views - turned out not to be accurate and have apologised to Mr Farage," the BBC said in the corrections and clarifications section of its website.
The public broadcaster added an update to the top of the online version of its original story, and the BBC Business Editor Simon Jack tweeted his own apology.
"The information on which we based our reporting on Nigel Farage and his bank accounts came from a trusted and senior source," Jack said. "However the information turned out to be incomplete and inaccurate."
Farage thanked Jack and said he had also received a letter of apology from BBC News Chief Executive Deborah Turness. "I am very grateful to both," he wrote on Twitter.
Natwest (LON:NWG) boss Alison Rose also apologised last week to Farage, an anti-immigration politician and a leading Brexit campaigner during Britain's vote to leave the European Union in 2016, for the handling of the closure of his accounts.
The row forced the government to step in last week, with the finance ministry setting new rules to make British banks explain and delay any decision to close an account.
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Written By: Reuters
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