Banks in the United Kingdom are closing more than one thousand private and business accounts every day, according to data obtained by a freedom of information request, which revealed the increasing regularity of the measure against both politically exposed persons (PEPs) and ordinary members of the public. The total number of account closures exceeded 343,000 in 2022 alone, representing an enormous increase in the use of the measure compared to 2016-17, during which around 45,000 accounts were shuttered. Worse yet, banks often fail to explain why they are closing an account. Instead, they merely inform customers that the account has...