Debanking: A Global Issue, A Swiss Perspective

Debanking first began reaching an international audience in 2023 as the British politician Nigel Farage revealed that his long-standing banker, had decided to abruptly close his accounts and show him the way out.

The decision was initially presented as commercially motivated, however, a subsequent subject access request shed light on the real reasons: an internal assessment perceived a misalignment between Farage's public profile and the values of the institution. In other words, the reasons could be understood as being essentially political.

The episode triggered significant political and regulatory scrutiny in the UK, ultimately leading to high-level resignations and to a broader reflection on the boundaries of risk-based offboarding in modern banking.