Gherson’s financial crime team has recently assisted two individuals in correcting their World-Check profiles.

We are increasingly being approached by individuals who believe that incorrect information about them, displayed on compliance databases, is having a detrimental impact – whether by unduly harming their reputation and/or preventing their ability to properly access banking facilities and financial products.

Often, this incorrect information can stem from biased media articles, or from compliance databases failing to conduct proper due diligence or misapplying the relevant rules, particularly in relation to  criteria such as whether the individual is a Politically Exposed Person.

General Process – if the information on a compliance database is incorrect

If you think that the information held about you on a compliance database is inaccurate (including an incorrect categorisation as a PEP), based on false information, or if you suspect that someone else may have used your details, there is a process you can follow to seek redress.

The first stage in this process is to ascertain whether you have been listed on one or more of these compliance databases. This may come to light through communication from an entity that relies on these databases, such as a bank informing you that you are unable to open an account or apply for a loan with them, or from making direct enquiries with a particular database under applicable data protection laws.

What information is being shared?

Once this is established, the next step is to understand what information, whether incorrect, misleading or inaccurate, is being circulated and shared through these databases. Depending on your individual circumstances, this may be relatively simple to deduce, though the particulars of this information may be difficult to determine.

Having a firm grasp of the law and regulatory frameworks that govern this area is of particular importance here. Gherson have a wealth of experience in this field and can assist in this regard.

How can I amend information on these databases?

Most compliance databases have internal mechanisms in place for individuals to request updates or corrections to their data. The individual will need to have valid reasons for doing so and produce documentary evidence in support of their assertions.  Being incorrectly listed as a PEP is a particularly relevant reason for correction, especially when supported by evidence.

Importantly, the legislation in this field does not automatically guarantee individuals the absolute right to have their personal data expunged or amended in accordance with their wishes.

These databases will only accede to such requests if they are compelled to do so. Compliance databases make every effort to free themselves of any liability for publishing potentially false, inaccurate or misleading information by specifically informing subscribers of a number of caveats, which include emphasising the need for users to conduct their own independent checks to verify the credibility of information displayed in the report.

As such, it is advisable to consult experienced legal professionals to assist with navigating this complex legal and regulatory landscape.

What can I do to try and challenge a wrong decision to close my personal and/or bank account(s)?

We are increasingly being approached by individuals who have been “de-banked”, often in situations where they believe that they have acted in full compliance with the Terms and Conditions of their bank accounts and all other legal and applicable rules and regulations.

We have previously written about how issues such as account closures are not limited to political figures in the UK, and affect many thousands of lawful individual and business customers every year.  These cases have exposed the difficult balance many financial institutions and their individual and business customers must strike to gain and maintain access to basic banking services. 

To assist those whose accounts have been closed, Gherson’s financial crime, investigations and regulatory team have previously written blogs titled:

• “Why has my bank account been closed”
• “Why has my business bank account been closed?”
• “140,000 SMEs “de-banked” last year – why could I have been de-banked?”
• “What are the proposed new laws aimed at preventing de-banking?”
• “Why the proposed new laws to try and prevent de-banking to not go far enough”. 
• “Am I entitled to a basic bank account in the UK?”

What can I do to try and challenge a wrongly imposed CIFAS marker?

We are also being increasingly approached by individuals who feel that a financial institution has wrongly imposed a CIFAS marker against their name.

If you have always acted in full compliance with the Terms and Conditions of your bank accounts and all other applicable legal rules and regulations, then you should have a good basis to challenge the bank’s decision to implement any CIFAS markers.

A strong challenge will often involve demonstrating, through evidence, that you have not breached the bank’s Terms and Conditions or any rules and regulations, and that all transactions were at all times completed in full compliance will all applicable laws and regulations.

In a previous blog, we examined what a CIFAS marker is and how to try and get it removed, as well as what you can do if a CIFAS marker has been wrongly imposed. 

We have also recently examined Challenging a crypto-related CIFAS Marker: what you can do.

NAVIGATING FINANCIAL INSTITUTION-RELATED CHALLENGES

Incorrect information on compliance databases

We are also being increasingly approached by individuals who believe that incorrect and/or inaccurate data about them stored in compliance databases is having an adverse effect on their relationship with financial institutions, and are facing subsequent issues such as bank account closures or difficulties in opening a bank account.

We have also written a series of blogs on a basic overview of the main functions of compliance databases like World-Check and how you can correct information about yourself on such databases?

HOW GHERSON CAN ASSIST

Gherson’s regulatory, white-collar and investigations team are highly experienced in advising on what you can do if your bank freezes or closes your account.  This includes assisting you in submitting a request under data protection legislation, otherwise known as a Data Subject Access Request, to ascertain what information banks and other financial institutions may be holding on you and their decision-making, and then analysing the response and assisting with any appropriate challenge.

If you have any questions arising from this blog, please do not hesitate to contact us for advice, send us an e-mail, or alternatively, follow us on X, Facebook, or LinkedIn to stay-up-to-date.

Updated: 2 June 2025

The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please do not hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.

©Gherson 2025

View all news & Insights