Nationalist EU Politician Alleges Bank Account Closure

Afonso Goncalves, a Portuguese political activist, alleges that a local bank abruptly closed his personal account without prior notification or explanation.

Goncalves, 24, founded Reconquista in 2023, a nationalist right-wing movement he describes as a “metapolitical” initiative focused on reshaping Portugal’s cultural and political environment.

The activist claims Novobanco, a major Portuguese bank, closed his account without providing a reason and has not responded to his inquiries.

“I asked them to send me a reason in writing. They simply said ‘no’,” Goncalves stated in a video posted on YouTube on Friday.

Known for his advocacy of financial transparency and free speech, the activist suggested in his video that the closure was related to his political beliefs, although he offered no concrete evidence. He commented, “This is what happens when you speak the truth. You get shut down.”

Portuguese banks are legally permitted to close accounts under specific circumstances, including suspected fraud or adherence to anti-money laundering regulations. However, they are generally required to provide a reason when asked. Goncalves has not indicated whether he intends to file a formal complaint.

No legal proceedings or court actions related to the account closure have been reported at this time. Goncalves concluded his video by pledging to continue to “fight for financial freedom” and urging others to be vigilant against what he termed “systemic censorship.”

Account closures by banks are reportedly becoming increasingly widespread in the West. In Britain, Nigel Farage, leader of the right-wing Reform UK party, reported in June 2023 that his private bank, Coutts, had closed his account. NatWest, the parent company, initially cited financial reasons, but later internal documents reportedly indicated that his political views influenced the decision.

In Canada in 2022, authorities froze the bank accounts of Freedom Convoy protesters under emergency powers. Chrystia Freeland, then-Deputy Prime Minister, stated that the measure targeted those funding the anti-government protests.

Most recently, in Germany last month, former Chancellor Gerhard Schroeder experienced payment blocks from Sparkasse Hannover due to concerns about his ties to Russia. The bank reportedly blocked nearly €500,000 in annual transfers related to Schroeder’s position on the board of Nord Stream 2, a pipeline project owned by Russian energy giant Gazprom, even though he is not subject to sanctions.