How do I stop family member using my name for savings/investements?

cloud_dog

This sounds a complex situation from a personal perspective. In order to extract yourself from this you need probably do the following:

1. Obtain a list of accounts from NS&I (as thenudeone suggested
2. If you are aware of other institutions your relative may have opened accounts with then do the same for these account
3. You could go down the route of contacting Mylostaccounts to identify any other accounts (although I've never used this service so cannot comment on it per se)
4. Undertake the above activity first so that you can continue from a position of knowledge / awareness
5. Once the above is complete
6. Inform your relative in writing that you have become aware that they are opening financial accounts in your name.

Regarding the letter you should state that:

1. You do not feel this is appropriate
2. They must close the accounts within 30 days of the letter.
3. If they do not close the accounts within 30 days you feel you have no other choice than to report it to the appropriate authorities.

I would suggest that you do not close the accounts youself even if you give the money back to the relative.

After a while (possibly another 30 days after the completion deadline) you probably will need to undertake the account searches again so as to confirm the action has been taken.

Unfortunately if this is not undertaken you must then follow through and report this to the Inland Revenue / Custme & Excise.

Just as a side thought..... I assume there is absolutely no possibility that this money is yours and is held in trust for you?

Hungerdunger

StevieJ wrote: »

Hey Mr Policemen I would like to complain about somebody who has stolen my ID and keeps giving me money.

Where in the original post (or anywhere else) does it mention that the relative is giving him money?

Flybaby

Cloud Dog - you rather read my mind, exactly where my head is at and what I am trying to achieve........
Many thanks again to all for all the advice and best wishes. Many of you mention being implied as comlicit in his fraud which is exactly what I am trying to ensure does not happen. I have finally fronted up to him about a great many things recently and am preparing my information before I tackle the money thing.
Did the credit report check and by including his address, found two nationwide accounts in my name with his address.
Will be calling Premium Bond people tomorrow to find out what the deal is there.

Is there way of finding out EVERYTHING that could possibly be in my name? Investments and debts included? Is there a particular type pf professional such as solicitor who can perfrom scuh a search?

Once I have gathered all the information I will give him written notice to stop his fraud and close all accounts under my identity and if does not comply I will be off to the authorities to force it done.

There is no possibility of the money being intended for me, as far as I am aware, he does it to every family member and no one has ever stood up to him. He has a lot of money, control and power and I seem to be the only one interested in breaking free of this bully - everyone else is too busy kissing his ar*e for their percentage of the inheritance.

System

If you decide at some point to report him, to police, NSI, bank, HMRC, or whoever, then be aware that they will in time uncover all his other dealings concerning other family members as well.

If it were me I would try to keep the initiative, and instigate action myself rather than waiting for it all to come out. I would try and arrange a personal interview at the highest level possible. You don't want to report it to a minion and then find it being referred slowly up a chain, because your own transparent honesty will be diminished in the process.

Biggles

Hungerdunger wrote: »

Where in the original post (or anywhere else) does it mention that the relative is giving him money?

I think StevieJ meant that the relative is putting money in accounts in her name, which is (almost but not quite!) the same thing.

While the relative is presumably doing this for tax fraud purposes, it really only becomes a problem for the OP when it impacts on her ability to open an account.

She should explain to the NS&I that she doesn't have any Premium Bond holdings and make sure they disassociate the £30k from her name.

pearl123

Well done - you do need to stop him. What he is doing is illegal.
What also to stop him getting credit in a families members name? And then maybe default.

Expose him for what he is!

CLONNEN

My sister has a similar problem to this - our father put several thousand pounds in Premium Bonds in her name shortly before he declared himself bankrupt. She was 10 years old at the time she signed.

My parents have been claiming Child Benefits since then. They can't take it out of her name because they would go over the 15k limit they are allowed to have. The younger children have stuff in their names also.

StevieJ

Hungerdunger wrote: »

Where in the original post (or anywhere else) does it mention that the relative is giving him money?

If someone put cash into accounts with my name and presumably my NI number it wouldn't be there long if I found out about it.

JC_Derby

pearl123 wrote: »

Go to the police - its identity fraud.

Why is it?

elisebutt65

StevieJ wrote: »

If someone put cash into accounts with my name and presumably my NI number it wouldn't be there long if I found out about it.

Yup - What's he going to do? - 'Hey Mr policeman - I put this money into Ms Cousin's account, in her name to avoid paying tax on it and now she's taken it?"
Wouldn't sound so good??:p How's he going to prove that it was even his money to start with.

It's pure tax avoidance and should be reported as such to be totally honest!