Ex-Natwest boss Alison Rose breached data rules in Farage debanking scandal
Former Natwest chief executive Dame Alison Rose breached data protection rules during the Nigel Farage debanking scandal, the UK’s data privacy watchdog has confirmed.
The UK Information Commissioner’s Office (ICO) found that Rose inappropriately shared Farage’s personal information. The breach happened when Rose discussed the closure of Nigel Farage’s bank account with a journalist.
The news was first reported by the Financial Times, citing a copy of the regulator’s ruling.
When asked for a comment on the report, a spokesperson for the ICO confirmed it had concluded its investigation into a complaint about the matter.
An ICO spokesperson told CityAM: “We upheld two parts of the complaint – namely, we found that an individual employed by Natwest shared information when they should not have done, and that by doing so they infringed the complainant’s data protection rights.
“We have been clear with the bank that these actions were unacceptable and should not happen again. However, in view of the fact the individual in question resigned her post and the bank has commissioned its own investigation, we do not intend to take any further regulatory action at this time.”
Rose was forced to step down over the incident and the Farage debanking scandal sparked a broader review into the issue of politically exposed persons (PEPs) in the UK being denied banking services.
The ICO’s findings come ahead of Natwest’s board meeting tomorrow and the release of its third-quarter results on Friday.
The bank is yet to determine whether Rose can receive £2.4m of pay during her year-long notice period, plus any bonuses. Farage previously called the planned payout a “sick joke”.
Responding to the ICO’s decision, the former UKIP and Brexit Party leader told the Financial Times: “The ICO report confirms that Dame Alison Rose was in breach of data rules, of the FCA rule book and oversaw a culture of deep political prejudice at Natwest.”
A Natwest spokesperson said: “We fully co-operate with the ICO in its assessment of any customer complaint but it would not be appropriate for us to comment on this individual case.”
CityAM was unable to reach Rose directly.