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Bank charges: UK banks 'accepted deposits' from corrupt Nigerian politicians

Four of the UK's biggest banks have been accused of accepting large deposits from corrupt Nigerian politicians.

Human rights campaigner Global Witness has claimed that HSBC, Barclays, Natwest and Royal Bank of Scotland took "millions of pounds" from two Nigerian governors between 1999 and 2005.

In its report International Thief Thief, Global Witness claims that, although the firms had not broken the law, they had failed to perform adequate checks on the two customers and the source of their funds.

HSBC vigorously denied the allegations, saying: "As a bank that has been at the very forefront of developing global PEP (politically exposed persons) guidance over the last decade, rest assured, rigorous and robust compliance procedures were followed diligently."

All three other firms declined to comment, along with the Financial Services Authority, which was also condemned by Global Witness for failing to "prevent banks from facilitating corruption".

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt management ADNFCR-2776-ID-800109797-ADNFCR



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