Your point is correct, but nationality matters (a) because Visa et al. pay taxes in the US and not the UK (b) because most higher-up employees of Visa et al. ar

Your point is correct, but nationality matters (a) because Visa et al. pay taxes in the US and not the UK (b) because most higher-up employees of Visa et al. are based in the US and pay taxes there and not in the UK (c) because the executives are not on-shore, they can sell customer transaction data to US TLAs and anyone else with near-impunity.