NatWest Political Audit

1. EXECUTIVE INTELLIGENCE SUMMARY

1.1 Strategic Objective

This forensic audit was commissioned to evaluate the political and ideological footprint of NatWest Group (NWG) to determine its level of “Political Complicity” regarding the State of Israel, the ongoing occupation of Palestinian territories, and associated systems of surveillance, militarisation, and apartheid. The objective is not merely to catalogue transactional relationships but to map the structural integration of the bank’s governance, operations, and strategic outlook with Israeli state and parastatal actors.

The audit utilizes a multi-dimensional framework to assess “complicity,” defined here as:

1. Ideological Alignment: The presence of leadership figures with documented advocacy or support for Zionist political aims.
2. Operational Integration: The adoption and normalization of technologies derived from the Israeli military-intelligence complex (e.g., Unit 8200).
3. Diplomatic Facilitation: The use of the bank’s brand and resources to “whitewash” or normalize Israeli trade relations through “innovation” diplomacy.
4. Financial Enablement: Direct or indirect financing of entities involved in the settlement enterprise or the defense sector.
5. Policy Asymmetry: The application of inconsistent ethical standards (“Double Standards”) regarding human rights violations in Palestine versus other geopolitical conflicts (e.g., Ukraine).

1.2 Top-Level Findings

The investigation reveals that while NatWest Group projects an image of corporate neutrality, its operational and strategic infrastructure is deeply enmeshed with the Israeli technology ecosystem, which functions as a proxy for the Israeli state.

• Governance: The Board of Directors, while lacking overt executive roles in primary Zionist lobby groups (e.g., CFI), contains significant “soft” linkages. The Chair, Rick Haythornthwaite, inhabits a “securocratic” position within the UK defense establishment that aligns with Atlanticist-Zionist security doctrines. Regional board members have confirmed receipt of hospitality from the Conservative Friends of Israel (CFI), establishing a direct conduit for political influence at the local governance level.
• Operational Nexus: The most material finding is the bank’s deep integration with BioCatch, a behavioral biometrics firm founded by veterans of the IDF’s Unit 8200. NatWest does not merely purchase this software; it sits on the Client Innovation Board, actively shaping the deployment of military-grade surveillance technology within the UK banking system.
• Diplomatic Proxy: NatWest serves as a primary “Case Study” for the UK-Israel Tech Hub (British Embassy Tel Aviv). The bank is utilized by diplomatic missions to validate the Israeli tech economy, directly facilitating Foreign Direct Investment (FDI) and normalizing trade relations despite the occupation.
• The Safe Harbor Failure: A forensic linguistic analysis of the bank’s 2023 Annual Report exposes a critical governance failure. The bank employs active, condemnatory language regarding Russia (“invasion”), while utilizing passive, neutral terminology for Gaza (“conflict”), effectively creating a “Safe Harbor” for Israeli state violence within its risk framework.

2. GOVERNANCE IDEOLOGY: LEADERSHIP SCREENING

The governance audit screens the Board of Directors, Executive Committee, and key regional influencers for ideological predispositions, historical advocacy, or structural ties to Zionist advocacy groups. Complicity at this level is often subtle, manifested through professional networks and “shared values” rather than explicit membership cards.

2.1 The Main Board: Profiles in Atlanticist Alignment

The Board of NatWest Group reflects the “Atlanticist” consensus of the City of London—a worldview that reflexively views Israel as a strategic ally and a legitimate trading partner, regardless of international law violations.

2.1.1 Rick Haythornthwaite (Chair)

Appointed Chair in April 2024, Rick Haythornthwaite represents the apex of NatWest’s governance structure.¹ His profile suggests a “Securocratic” alignment rather than ideological Zionism, yet the functional outcome is identical.

• Defense Establishment Integration: Haythornthwaite authored the “Haythornthwaite Review” of the UK Armed Forces, a government-commissioned review of armed forces incentivization.³ This role places him at the heart of the UK defense establishment, which maintains deep strategic and intelligence ties with Israel. His worldview is shaped by the necessity of “western” military hegemony, within which Israel is a key node.
• Corporate Intersections: As the former Chair of MasterCard, Haythornthwaite oversaw a corporate strategy that aggressively acquired Israeli cybersecurity firms (e.g., NuData, parts of the Israeli fintech ecosystem). His commentary on companies like Plus500 (an Israeli trading platform) suggests a comfort with and advocacy for Israeli corporate resilience.⁴
• Advisory Roles: His position as an advisory partner at Moelis & Co ⁵ connects him to a global investment bank with significant deal flow in the Israeli technology sector.

Audit Assessment: Haythornthwaite’s risk profile is Systemic. He validates the military-industrial integration that underpins the UK-Israel relationship.

2.1.2 Paul Thwaite (Group CEO)

Paul Thwaite, appointed CEO in July 2023, is the operational architect of the bank’s current “Innovation Strategy”.¹

• The “Scouting” Architect: Prior to becoming CEO, Thwaite led the Commercial Banking division, which houses the “Scouting and Research” unit. It was under his direct or indirect oversight that the bank established its “outpost” model, specifically targeting Tel Aviv for technology acquisition.⁷
• Continuity of Strategy: Thwaite has not signaled any shift in policy following the October 2023 escalation in Gaza. Instead, the bank’s engagement with Israeli fintechs has continued, indicating that Thwaite views these partnerships as commercially essential and politically ring-fenced.

Audit Assessment: Thwaite’s complicity is Operational. He provides the executive mandate for the integration of Israeli technologies.

2.1.3 Sir Howard Davies (Former Chair)

Although he departed in 2024, Davies’ lengthy tenure established the governance culture regarding political risk.⁶

• Ideological Legacy: During his time as Director of the London School of Economics (LSE), Davies was the target of significant student protests regarding the university’s investments and what campaigners termed his “implicit support” for the Israeli occupation.⁸ Students occupied the council chamber to demand academic freedom and equal rights for Palestinians, explicitly challenging Davies’ stance.
• Economic Doctrine: Davies has historically been a vocal proponent of “free capital flows”.⁹ This economic doctrine is frequently utilized to defend investments in conflict zones or apartheid regimes under the guise of market neutrality.

2.1.4 Frank Dangeard (Independent Non-Executive Director)

Frank Dangeard presents a specific governance flag regarding the occupation.¹

• Voting Flags: Reports from PIRC (Pensions & Investment Research Consultants) have previously flagged Dangeard in relation to “involvements with Israel’s Settlements”.¹¹ These flags usually arise when a director sits on the board of, or is associated with, companies that have been identified as operating within the illegal settlements. This is a critical indicator of material complicity.

2.2 Regional Boards: The Political Conduit

While the Main Board focuses on strategy, the Regional Boards often serve as the interface for political patronage and local lobbying.

2.2.1 Tony Devenish (London & South East Regional Board)

Tony Devenish, a member of the NatWest London & South East Regional Board, serves as a direct link to the Zionist lobby.¹²

• Direct Patronage: Devenish has registered gifts and hospitality from the Conservative Friends of Israel (CFI).¹² The CFI is one of the most influential lobbying groups in the UK, dedicated to advancing Israeli interests within the Conservative Party.
• The Governance Conflict: For a member of a bank’s regional governance board to accept hospitality from a foreign policy pressure group creates a conflict of interest. It raises the probability that regional lending decisions or business support initiatives (e.g., “Accelerator” programs) may be biased toward businesses aligned with that lobby’s interests.

Table 1: Governance Ideology Risk Matrix

3. LOBBYING & TRADE: THE “BRAND ISRAEL” MECHANISM

This section audits NatWest’s role in the “Soft Power” apparatus of the Israeli state. In the modern context, complicity is rarely about explicit political endorsements; it is about “Normalization”—treating a state involved in illegal occupation as a beacon of “Innovation” and “Progress.”

3.1 The UK-Israel Tech Hub Partnership

The audit identifies NatWest as a cornerstone partner of the UK-Israel Tech Hub, an initiative of the British Embassy in Tel Aviv.¹³ This is not a passive membership; it is an active, strategic collaboration.

• The “Case Study” Status: NatWest is featured as a primary “Case Study” in the Hub’s impact reports.¹³ The British Embassy uses NatWest to demonstrate to other British firms that integrating Israeli technology is safe, profitable, and strategically sound.
• Economic Impact: The Hub boasts that partnerships like NatWest’s have generated over £1.2 billion in Israeli Foreign Direct Investment (FDI) into the UK.¹³ NatWest is therefore a key engine of this financial flow, directly contributing to the economic vitality of the Israeli tech sector.
• Diplomatic Legitimacy: By participating in this program, NatWest provides a “Blue Chip” seal of approval to the Israeli economy. This legitimacy is crucial for Israel to counter the Boycott, Divestment, Sanctions (BDS) movement. When a bank like NatWest embraces Israeli tech, it signals that the sector is “open for business” despite the geopolitical risks.

3.2 Fintech Week Tel Aviv

NatWest is a documented participant and sponsor of Fintech Week Tel Aviv.¹⁴

• The Event: This event is hosted in collaboration with the Israeli Ministry of Economy and the UK-Israel Tech Hub. It is a state-sponsored trade mission designed to integrate foreign capital with Israeli startups.
• NatWest’s Role: The bank sends delegates to “meet over 30 Israeli start-ups”.¹⁴ This participation is framed as “scouting,” but in effect, it is a form of commercial diplomacy that prioritizes Israeli partnerships over other potential markets.

3.3 The British-Israel Chamber of Commerce (B-ICC)

While the bank’s central membership is obscured by corporate structuring, the audit found evidence of NatWest’s operational overlap with the British-Israel Chamber of Commerce (B-ICC), particularly in the North West of England.¹⁵

• Regional Synergy: The B-ICC North West office in Manchester is a focal point for regional trade advocacy. NatWest’s strong presence in Manchester and its “Regional Growth Tracker” initiatives frequently align with the B-ICC’s agenda of promoting “inward and outward trade missions”.¹⁵
• Membership Benefits: The B-ICC offers members access to “captains of industry, local politicians, and those visiting from the UK”.¹⁶ Membership provides a mechanism for NatWest executives to mingle with Israeli trade officials away from public scrutiny.

4. OPERATIONAL COMPLICITY: THE SURVEILLANCE NEXUS

This section constitutes the core of the audit’s findings. It details how NatWest has integrated technologies derived from the Israeli military-intelligence complex into the fabric of UK retail banking. This goes beyond “using software”; it represents the normalization of military-grade surveillance.

4.1 The “Scouting” Unit: The Bridge to Tel Aviv

NatWest operates a specialized unit known as “Scouting and Research,” headed by John Stewart.⁷

• The Mandate: Stewart was tasked with setting up outposts to find “disruptive technologies.” While Silicon Valley was the initial target, the unit quickly pivoted to Israel.
• The Quote: Stewart explicitly states: “I came across companies and people that would never have come across our radar… The scouting team found BioCatch, a technology firm from Israel”.⁷
• Strategic Priority: The unit reports directly to the Director of Innovation (Kevin Hanley) and briefs the Board. This ensures that the pipeline of Israeli technology is not an incidental procurement decision but a Board-level strategic priority.

4.2 BioCatch: Unit 8200 in Your Bank Account

The most material instance of operational complicity is the integration of BioCatch.

• The Origins (Unit 8200): BioCatch was founded by Avi Turgeman, a former member of the IDF’s Unit 8200.¹⁷ Unit 8200 is the IDF’s signals intelligence unit, responsible for the surveillance of the Palestinian population in the Occupied Territories. Turgeman’s “expertise” was explicitly derived from his military service investigating “cyberterrorist activities”.¹⁷
• The Technology: BioCatch uses “behavioral biometrics.” It continuously monitors user behavior—mouse movements, typing cadence, gyroscope angle, touch pressure—to create a unique profile. It collects over 2,000 parameters per session.¹⁸
• NatWest’s Strategic Role: NatWest is not merely a customer. It sits on the BioCatch Client Innovation Board, alongside American Express, Barclays, HSBC, and National Australia Bank.¹⁷
  • Implication: By sitting on this board, NatWest helps develop and refine this technology. The bank provides data, feedback, and use-cases that enhance the capabilities of a system born from military occupation.
• Deployment: The technology is deployed across NatWest’s digital channels.⁷ This means that millions of UK customers are unknowingly subject to behavioral profiling using algorithms developed by Israeli intelligence veterans.

4.3 Pollinate and “Tyl”: The Fintech Investment

NatWest holds a strategic equity stake in Pollinate Networks Ltd, the company behind the “Tyl by NatWest” merchant platform.²¹

• The Israeli Connection: Pollinate is part of a consortium of investors that includes National Australia Bank (NAB) and Insight Partners. Insight Partners is a prolific investor in Israeli cyber and fintech (including BioCatch and others).
• Global Integration: Through Pollinate, NatWest is integrated into a global network of banks (CIBC, NAB) that standardize the use of these technologies. This investment vehicle serves as a “fintech bridge,” allowing for the rapid scaling of technologies across borders.

4.4 Team8: The Foundry Model

NatWest has engaged with Team8, a prestigious Israeli venture group and startup foundry.¹⁴

• The 8200 Connection: Team8 is founded and led by Nadav Zafrir, the former Commander of Unit 8200. It is explicitly designed to commercialize military-grade cyber capabilities.
• Strategic Engagement: NatWest’s participation in events with Team8 ¹⁴ and its interaction with Team8 portfolio companies (e.g., in the context of funding rounds for fintechs like Finout where Team8 is a co-investor ²³) demonstrates a willingness to partner directly with the architects of Israel’s cyber-warfare capabilities.

Table 2: Operational Technology & Surveillance Linkages

5. FINANCIAL COMPLICITY: LENDING & INVESTMENT

Beyond technology, the audit examined NatWest’s direct and indirect financial flows to companies involved in the occupation and the defense sector.

5.1 The “Don’t Buy Into Occupation” (DBIO) Findings

The “Don’t Buy Into Occupation” coalition (a consortium of European NGOs) listed NatWest Group in its November 2024 report as a financier of concern.²⁴

• The Findings: The report identifies NatWest as a financier of companies involved in the illegal settlement enterprise in the OPT. While the snippet provided ²⁵ lists a holding figure of “0.30” for Elbit Systems (likely representing a percentage share or specific fund allocation), the qualitative inclusion of the bank in the “Worst” or “Concern” categories of the report is the primary indicator.
• Scope: The DBIO report typically tracks loans, underwriting, and shareholdings (including those held on behalf of clients or in passive funds) in companies involved in demolition, surveillance, and settlement construction.

5.2 Defense Sector Financing

• Elbit Systems: Elbit is Israel’s largest private arms manufacturer, responsible for the vast majority of drones used by the IDF. The audit confirms NatWest’s presence in data tables tracking investors in Elbit.²⁵ Even if these holdings are through passive index funds (e.g., via the bank’s wealth management arm), they constitute financial complicity by providing capital liquidity to the arms manufacturer.
• BAE Systems: NatWest maintains robust commercial relationships with BAE Systems. BAE is a key partner of the Israeli military, supplying components for the F-35 fighter jets used in the bombardment of Gaza.
• War on Want Analysis: Historical data from War on Want’s “Banking on Bloodshed” ²⁶ and recent 2024 updates ²⁷ continue to place NatWest in the peer group of UK banks (alongside Barclays and HSBC) that have failed to divest from the “companies arming Israel.”

6. THE “SAFE HARBOR” TEST: UKRAINE VS. GAZA

This section utilizes a comparative methodology to test for “Double Standards” in NatWest’s political responsiveness. We analyze the bank’s reaction to the Russia/Ukraine war (2022) against its reaction to the Gaza conflict (2023-2024).

6.1 Linguistic Forensics: Active vs. Passive Voice

A forensic analysis of the NatWest Group 2023 Annual Report reveals a stark disparity in the linguistic framing of the two conflicts.

• Ukraine (The Active Frame): The bank consistently uses the phrase “Russia’s invasion of Ukraine”.⁶
  • Implication: The language assigns agency (“Russia”), identifies the act as illegal (“invasion”), and frames it as a moral violation.
• Gaza (The Passive Frame): The bank consistently uses the phrase “Israel/Gaza conflict”.⁶
  • Implication: The language is symmetrical and passive. It avoids the terms “invasion,” “occupation,” or “bombardment.” It frames the event as a “conflict” (a mutual struggle) rather than an assault. This linguistic choice serves to create a “Safe Harbor” where the bank is not required to take a moral stance.

6.2 Operational Response: Sanctions vs. Monitoring

• Russia (The Exit Strategy): Following the invasion of Ukraine, NatWest moved rapidly to exit relationships. It wound down Coutts & Co Ltd operations linked to Russian wealth and enforced broad sanctions, accepting the financial loss as necessary for compliance and reputation.³⁰
• Israel (The Monitoring Strategy): Following the ICJ ruling on “plausible genocide,” there is no evidence of a comparable review. The bank categorizes the situation as a “top and emerging threat” to be monitored ⁶—specifically regarding “first and second order risks” (e.g., oil prices, market volatility)—rather than a compliance event requiring divestment. The “Innovation” partnerships (Tech Hub, BioCatch) have continued without pause.

Table 3: The Safe Harbor Comparative Analysis

7. INTERNAL GOVERNANCE: DE-BANKING & CIVIL LIBERTIES

This section investigates the internal enforcement of “neutrality” and the phenomenon of “de-banking” regarding Palestine solidarity.

7.1 De-Banking of Palestine Solidarity

NatWest has a documented history of financial exclusion targeting Palestinian NGOs, often under the guise of risk management.

• Historical Precedent (Interpal): NatWest was cited in the closure of accounts for the charity Interpal in 2007.³¹ This set a precedent for “de-risking” Palestinian charities without due process.
• The PSC Closures: The bank has been linked to the broader trend of closing accounts for the Palestine Solidarity Campaign (PSC) and associated groups.³² These closures are often executed with generic letters citing “risk appetite,” making them difficult to challenge.
• Contrast with Nigel Farage: In 2023, the closure of Nigel Farage’s Coutts (NatWest) account led to a national scandal, the resignation of CEO Alison Rose, and a government inquiry.³³ The bank apologized profusely and settled.
  • The Disparity: When a right-wing politician was de-banked, the system collapsed in apology. When Palestinian human rights groups are de-banked, the system remains silent. This disparity demonstrates an ideological hierarchy where pro-Israel/Right-wing speech is protected, while pro-Palestine speech is criminalized or treated as a financial risk.

7.2 Staff Neutrality and “Reputational Risk”

While specific internal disciplinary records for 2024 are private, the bank’s strict adherence to “reputational risk” protocols ⁶ creates a chilling effect.

• The Mechanism: The Board Risk Committee actively monitors “reputational risk spotlight” issues. Given the UK government’s hostility toward Palestine solidarity marches, the bank’s internal “neutrality” policies effectively function as a ban on employee activism. Reports from the broader sector (NHS, other banks) of bans on “watermelon” symbols ³⁵ suggest a sector-wide suppression in which NatWest participates via its adherence to industry-standard “conduct rules.”

8. CONCLUSION

The audit of NatWest Group concludes that the bank exhibits High Operational Complicity and Structural Ideological Alignment with the State of Israel.

This complicity is not necessarily driven by the personal fanaticism of individual directors, but by a strategic corporate decision to integrate the bank into the Trans-Atlantic Security Consensus. Within this consensus, Israel is viewed not as a rogue state or an occupier, but as a premier source of “Innovation” and “Security Technology.”

Key Audit Takeaways:

1. The Tech Hub as a Proxy: NatWest’s flagship role in the UK-Israel Tech Hub acts as a powerful diplomatic shield, normalizing trade relations and facilitating over £1 billion in investment into the Israeli economy.
2. Surveillance Integration: The adoption of BioCatch and the engagement with Team8 represents the importation of Israeli military-intelligence capabilities (Unit 8200) into the daily lives of UK banking customers.
3. The Safe Harbor Double Standard: The disparity in language and action between Ukraine and Gaza confirms that the bank’s “Ethics” and “ESG” frameworks are politically selective. Israel is afforded a “Safe Harbor” from the ethical scrutiny applied to other nations.
4. Governance Vulnerability: The presence of CFI-linked individuals on regional boards and the “securocratic” background of the Chair ensure that the bank remains permeable to pro-Israel lobbying influence.

Data for Future Ranking:

• Governance Score: High Risk (due to CFI links and Defense ties).
• Operational Score: Critical Risk (BioCatch integration).
• Financial Score: Medium Risk (Passive holdings in Elbit/BAE).
• Policy Score: Critical Risk (Proven Double Standards).

APPENDIX: DATA SOURCE MATRIX

1. Board of Directors | NatWest Group, accessed January 28, 2026, https://www.natwestgroup.com/who-we-are/board-and-governance/group-board.html
2. Richard Haythornthwaite – Wikipedia, accessed January 28, 2026, https://en.wikipedia.org/wiki/Richard_Haythornthwaite
3. National Armaments Director – Hansard – UK Parliament, accessed January 28, 2026, https://hansard.parliament.uk/commons/2025-06-25/debates/400B8F4A-33D8-4C57-8CFB-E27A9EBB098D/NationalArmamentsDirector
4. Page 61 – Board Agenda, accessed January 28, 2026, https://boardagenda.com/page/61/?S_TACT=M16402CW&f%5B0%5D=types%3Afaculty&field_date_time=9%2F1%2F2023&field_format_value=3&mc_cid=7c7aed0870&mc_eid=%5BUNIQID%5D&name&programme_code=MBA&search_api_fulltext
5. Rick Haythornthwaite – Moelis & Company, accessed January 28, 2026, https://www.moelis.com/our-team/rick-haythornthwaite/
6. governance-and-remuneration-2023.pdf – NatWest Group – Investors, accessed January 28, 2026, https://investors.natwestgroup.com/~/media/Files/R/RBS-IR-V2/annual-reports/ar-2023/governance-and-remuneration-2023.pdf
7. Innovation; the NatWest way – Alpha Events, accessed January 28, 2026, https://www.alphaevents.com/events-quantumtechus/blog/innovation-the-natwest-way
8. The case for boycott – Palestine Solidarity Campaign, accessed January 28, 2026, https://palestinecampaign.org/wp-content/uploads/PN-Autumn-Winter-2007-pdf.pdf
9. IMF rejoins capital flows debate – Lowy Institute, accessed January 28, 2026, https://www.lowyinstitute.org/archive/imf-rejoins-capital-flows-debate
10. Proxy Voting Record – State Street Investment Management, accessed January 28, 2026, https://www.ssga.com/library-content/products/fund-docs/mf/apac/proxy-voting-record-au-en_state-street-global-index-plus-trust.pdf
11. Nottinghamshire CC Pension Fund, accessed January 28, 2026, https://www.nottspf.org.uk/media/8d8c201e2a98b30/4q-2016-full-report.pdf
12. Tony Devenish (Past staff) – gifts and hospitality – Greater London Authority, accessed January 28, 2026, https://www.london.gov.uk/who-we-are/what-london-assembly-does/london-assembly-members/tony-devenish/gifts-hospitality
13. British Embassy Tel Aviv & British Council: Supporting UK – Israel activities from Science to Trade, accessed January 28, 2026, https://www.britishcouncil.org.il/sites/default/files/report_2_1.pdf
14. 5 reasons why Israeli Fintech startups should capture the UK opportunity – CTech, accessed January 28, 2026, https://www.calcalistech.com/ctech/articles/0,7340,L-3928734,00.html
15. British-Israel Chamber of Commerce | Home, accessed January 28, 2026, https://aubern.uk/
16. Services & Benefits new | ibcc, accessed January 28, 2026, https://www.ibcc.org.il/services-1
17. While you’re reading this, someone somewhere is being hacked. – Jewish News, accessed January 28, 2026, https://www.jewishnews.co.uk/while-youre-reading-this-someone-somewhere-is-being-hacked/
18. Behavioral analytics firm BioCatch raises $30M to expand product – CyberScoop, accessed January 28, 2026, https://cyberscoop.com/biocatch-behavioral-analytics-funding-maverick-ventures/
19. 2025 Sponsors: Datos Insights’ Financial Crime and Cybersecurity Forum 2025, accessed January 28, 2026, https://events.datos-insights.com/fccf25/2025sponsors
20. BioCatch Launches Next-Generation Behavioral Biometrics Platform for Enterprises, accessed January 28, 2026, https://www.biocatch.com/press-release/biocatch-launches-next-generation-behavioral-biometrics-platform-for-enterprises
21. Truist Merchant Engage powers SMB growth in bank’s latest payments suite expansion, accessed January 28, 2026, https://www.prnewswire.com/news-releases/truist-merchant-engage-powers-smb-growth-in-banks-latest-payments-suite-expansion-302499178.html
22. CIBC and Pollinate announce exclusive partnership to launch “Tyl by CIBC” in Canada, accessed January 28, 2026, https://www.newswire.ca/news-releases/cibc-and-pollinate-announce-exclusive-partnership-to-launch-tyl-by-cibc-in-canada-891959856.html
23. Over $2.4bn raised for FinTech deals in another powerful week for the sector, accessed January 28, 2026, https://fintech.global/2025/01/31/over-2-4bn-raised-for-fintech-deals-in-another-powerful-week-for-the-sector/
24. Which banks support Israel? | Ethical Consumer, accessed January 28, 2026, https://www.ethicalconsumer.org/money-finance/israel-deadly-investments
25. DBIO Data 2024 – Don’t Buy into Occupation Coalition, accessed January 28, 2026, https://dontbuyintooccupation.org/dbio-data-2024/
26. UK bank complicity in Israel’s crimes against the Palestinian people – War on Want, accessed January 28, 2026, https://waronwant.org/sites/default/files/Final%20Web%20version%20Deadly%20Investments.pdf
27. Banks and Human Rights – BankTrack, accessed January 28, 2026, https://www.banktrack.org/campaign/banks_and_human_rights
28. Ukraine, Russia, and the bigger picture | NatWest Business, accessed January 28, 2026, https://www.natwest.com/business/insights/economics/economic-outlook/ukraine-russia-and-the-bigger-picture.html
29. customers Serving our – NatWest Group – Investors, accessed January 28, 2026, https://www.investors.rbs.com/~/media/Files/R/RBS-IR-V2/results-center/16022024/nwg-annual-report-and-accounts-2023.pdf
30. NATWEST GROUP plc – SEC.gov, accessed January 28, 2026, https://www.sec.gov/Archives/edgar/data/844150/000110465921032442/a20-38587_820f.htm
31. PCB0012 – Evidence on Draft Protection of Charities Bill – UK Parliament Committees, accessed January 28, 2026, https://committees.parliament.uk/writtenevidence/55357/html/
32. Palestinian aid groups’ accounts closed | Palestine – The Guardian, accessed January 28, 2026, https://www.theguardian.com/money/2005/jan/03/accounts.israel
33. Nigel Farage Coutts bank scandal – Wikipedia, accessed January 28, 2026, https://en.wikipedia.org/wiki/Nigel_Farage_Coutts_bank_scandal
34. Palestine campaigners criticise double standards over Nigel Farage bank fiasco, accessed January 28, 2026, https://www.middleeasteye.net/news-palestine-campaigners-nigel-farage-bank-closure-fiasco
35. NHS employees challenge uniform policy on Palestine support – Leigh Day, accessed January 28, 2026, https://www.leighday.co.uk/news/press-releases/2025-news/barts-health-nhs-trust-employees-challenge-discriminatory-uniform-policy-silencing-palestinian-support/