Key facts
- Bankers reported a £5 million gift to Nigel Farage to the National Crime Agency due to concerns about potential money laundering.
- The gift was made by cryptocurrency billionaire Christopher Harborne.
- Farage has faced scrutiny over the timing and declaration of the funds, which he claims were an unconditional gift.
- He announced he would force a byelection in his Clacton seat, with major parties agreeing not to contest it.
- The National Crime Agency does not comment on specific SARs.
Bankers have reported a £5 million gift to Nigel Farage, leader of Reform UK, to the National Crime Agency (NCA) due to concerns that the funds may have been laundered. The disclosure, revealed by The Guardian, intensifies pressure on Farage, who is already awaiting a decision from the standards commissioner regarding his failure to declare the money.
Farage received the substantial sum from cryptocurrency billionaire Christopher Harborne. While Farage has stated the gift was unconditional and did not need to be declared as he was not a politician at the time, the timing of the transfers has raised questions. Sources indicate that at least some of the money was received after Farage announced he would not stand for parliament in May 2024, only to later decide to run for the Clacton seat.
Bankers flagged the transaction due to Farage's status as a 'politically exposed person' and Harborne's involvement with cryptocurrencies, which can make tracing wealth more difficult. A suspicious activity report (SAR) was filed with the NCA on May 16, 2024. Such a report does not prove wrongdoing but prompts the agency to examine the transaction.
In response to the deepening scandal, Farage announced he would force a byelection in his Clacton constituency. However, other major political parties, including the Conservatives, Labour, Restore Britain, and the Liberal Democrats, have stated they will not field candidates against him, a move described by some as a 'media circus' and 'vanity project'.
Farage has maintained that he had no obligation to disclose the gift and has questioned the legality of how information about it was obtained by The Guardian. He has also provided varying explanations for the gift's purpose, including security and a reward for his Brexit campaigning. Lawyers for Harborne did not provide substantive responses to detailed questions regarding the gift and the SAR.