WellTax Blog

Bank immigration checks ‘nightmare’ warning from expert

November 14, 2017

Resolving mistakes made when new rules come into force to freeze or close the bank accounts of illegal immigrants could be an “absolute nightmare”, a former board member of TSB has warned.
Banks and building societies will carry out checks from January to see if account holders are legally in the UK. MPs backed the move in 2016, but Philip Augar said mistakes would be made and “poor individuals” would suffer. The Home Office said the system was “fair” but “firm”.
Financial institutions will be provided with a list from anti-fraud organisation Cifas on people who are liable for removal or deportation from the UK or who have absconded from immigration control.
The organisations will then have to report any names they discover and freeze or close the accounts. According to the Guardian, 70 million accounts will be looked at quarterly to check the immigration status of the holders…

 

Article from the “BBC”

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