Nigel Farage's £5m gift reported to UK crime agency amid money laundering concerns, sparks political row

Reform UK leader Nigel Farage's £5 million gift from a cryptocurrency billionaire has been reported to the UK's National Crime Agency (NCA) by bankers who raised concerns about potential money laundering. This development intensifies scrutiny on Farage, who is already facing a parliamentary investigation for allegedly failing to declare the substantial sum, a potential breach of parliamentary rules. Farage maintains that the money was a personal gift intended for his security, and that he was not obligated to disclose it as he was not a politician at the time of receipt.

In response to the growing controversy surrounding his finances, Farage recently resigned his parliamentary seat in Clacton-on-Sea and announced he would trigger a by-election there, portraying it as an opportunity for the public to judge his actions. However, this move has been met with skepticism by political opponents, who view it as a tactic to divert attention from the allegations. Other major parties have indicated they will boycott the upcoming by-election.

The National Crime Agency, while not confirming or denying the receipt of confidential suspicious activity reports (SARs), would investigate such a report to determine if further action is warranted, as an SAR itself is not proof of wrongdoing. Separately, Farage is also facing questions regarding other financial relationships, including donations from a convicted fraudster, which are under investigation by the parliamentary watchdog.