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E80: De-banked SMEs: How 140,000 small businesses ended up on a banking blacklist
Manage episode 409199656 series 3414896
Some pretty shocking statistics surfaced recently from an enquiry by the UK’s Treasury Committee looking into access to finance.
Obtaining data from eight UK banks - the committee found that more than 140,000 accounts held by small and medium-sized enterprises (SMEs) were forcibly closed in the past year.
Following hot on the heels of the Nigel Farage Coutts drama – as well as the country’s recent dip into a recession – these figures raise concerns about how the backbone of the UK economy is being served by the banking industry.
So is this a real issue? Or a storm in a teacup?
In the latest episode of The Laundry – our expert host, Marit Rødevand, is joined by James Nurse, Managing Director of Fintrail, and Neil Donovan, Senior Associate at Ashurst,
The panel discuss: Why thousands of businesses are being de-banked, the legitimacy of compliance concerns raised by banks, and how we make the system better at spotting bad actors and front organisations.
Producer: Matthew Dunne-Miles
Engineers: Dominic Delargy, Nicholas Thon
____________________________________
The Laundry podcast: Dive deep into the intricacies of financial crime, AML (anti-money laundering), compliance, sanctions, and the ever-evolving landscape of financial regulation.
Hosted by Marit Rødevand and Fredrik Riiser – this podcast features renowned experts from banking, fintech, compliance, and investigative journalism.
Together, they shed light on the industry's trending topics, analyse mainstream news through a compliance-focused lens, and connect the fight against financial crime to its real-world consequences and ramifications.
The Laundry is proudly produced by Strise, an AML Automation Cloud.
Get in touch at: laundry@strise.ai
Subscribe to our newsletter, Fresh Laundry, here.
Hosted on Acast. See acast.com/privacy for more information.
95 episodes
Manage episode 409199656 series 3414896
Some pretty shocking statistics surfaced recently from an enquiry by the UK’s Treasury Committee looking into access to finance.
Obtaining data from eight UK banks - the committee found that more than 140,000 accounts held by small and medium-sized enterprises (SMEs) were forcibly closed in the past year.
Following hot on the heels of the Nigel Farage Coutts drama – as well as the country’s recent dip into a recession – these figures raise concerns about how the backbone of the UK economy is being served by the banking industry.
So is this a real issue? Or a storm in a teacup?
In the latest episode of The Laundry – our expert host, Marit Rødevand, is joined by James Nurse, Managing Director of Fintrail, and Neil Donovan, Senior Associate at Ashurst,
The panel discuss: Why thousands of businesses are being de-banked, the legitimacy of compliance concerns raised by banks, and how we make the system better at spotting bad actors and front organisations.
Producer: Matthew Dunne-Miles
Engineers: Dominic Delargy, Nicholas Thon
____________________________________
The Laundry podcast: Dive deep into the intricacies of financial crime, AML (anti-money laundering), compliance, sanctions, and the ever-evolving landscape of financial regulation.
Hosted by Marit Rødevand and Fredrik Riiser – this podcast features renowned experts from banking, fintech, compliance, and investigative journalism.
Together, they shed light on the industry's trending topics, analyse mainstream news through a compliance-focused lens, and connect the fight against financial crime to its real-world consequences and ramifications.
The Laundry is proudly produced by Strise, an AML Automation Cloud.
Get in touch at: laundry@strise.ai
Subscribe to our newsletter, Fresh Laundry, here.
Hosted on Acast. See acast.com/privacy for more information.
95 episodes
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