Hey guys, let's be realistic here.
This isn't as major a problem as it may seem - I think that the Guardian may have got its facts wrong a little - by law every bank emploee is required to perform 'due diligence' - in other words, they are required to look for unusual activity on every bank account, not just those of 5,000 muslims.
Money laundering - processing the proceeds of crime/terrorist activity through the banking system - is itself a criminal act and if the banks do not perform their due diligence then they are also performing criminal activity. Basically, every bank employee is responsible for monitoring transactions on their accounts that they deal ith and if they fail to do so and fail to act when unusual transactions appear on the account then they themselves can be imprisoned.
OK, so you may not want people keeping an eye on what you're spending, but personally I'm glad they do, because they've caught people fraudulently trying to use my account before. Oh, and not only that, but this is not a British law only, it is an international law - I am only aware of about half a dozen countries that do not have similar laws in place.
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Hey guys, let's be realistic here. This isn't as major a problem as it may seem - I think that the Guardian may have got its facts wrong a little - by law every bank emploee is required to perform 'due diligence' - in other words, they are required to look for unusual activity on every bank account, not just those of 5,000 muslims. Money laundering - processing the proceeds of crime/terrorist activity through the banking system - is itself a criminal act and if the banks do not perform their due diligence then they are also performing criminal activity. Basically, every bank employee is responsible for monitoring transactions on their accounts that they deal ith and if they fail to do so and fail to act when unusual transactions appear on the account then they themselves can be imprisoned. OK, so you may not want people keeping an eye on what you're spending, but personally I'm glad they do, because they've caught people fraudulently trying to use my account before. Oh, and not only that, but this is not a British law only, it is an international law - I am only aware of about half a dozen countries that do not have similar laws in place.