Question to the HM Treasury:

To ask the Chancellor of the Exchequer, on what statutory basis a bank is able to close an account without disclosure to the customer concerned.

Banks are under no obligation in law to inform customers of the reasons for an account closure.

In addition, under s333A of the Proceeds of Crime Act 2002, it is a criminal offence for a person who has made a disclosure to the appropriate authorities under Part 7 (in relation to suspicions of money laundering) to inform the customer that they have done so, where that could prejudice an investigation. This applies to banks, where an account closure is the result of suspected criminal activity. Individual banks are responsible for compliance with this obligation.