Barclays removed all my money !!

jamesd

meer53 wrote: »

You might feel a bit better if you do a bit of research on Money Laundering and the damage it can cause.

This is part of that damage. So are the know your customer and other identification requirements. It's an exercise that punishes all of the innocent customers while the guilty ones just work around the system. I'd be surprised if the combined costs of all of this aren't larger than the losses due to money laundering activities that would otherwise have been undetected.

kingstreet

This is a poor attempt at money laundering if that's what it is.

It's only seen a single transaction and it's going back to cash?

Now it's in the system it would normally be layered through various transactions with different banks to disguise its identity, before being integrated into the system as being of legitimate origin.

meer53

kingstreet wrote: »

This is a poor attempt at money laundering if that's what it is.

It's only seen a single transaction and it's going back to cash?

Now it's in the system it would normally be layered through various transactions with different banks to disguise its identity, before being integrated into the system as being of legitimate origin.

How does anyone know how many times this cash has already been through the system before the OP paid it in ?
No-one is accusing the OP of anything but their bank was obviously suspicious, for them to do what they have done.
The OP hasn't said where the money came from have they ? Or why they needed to draw it out so soon ?

carla99

Thanks everyone, money was returned, with no good explanations, just sorry, sorry!

Jasperjasper

This has happened to me recently.
They did exactly the same thing but took out 23 000 pounds, this is my sole account and the only money i had.
What is worse, it's been over 10 days and they are coming back with the same reasons.
My girlfriend and her 2 kids left me. I've been on bread and water diet.
The money is 100 % clean. So there is nothing to hide.
My only problem is that i clocked on it was money laundering and told them i believe it was this, and that they only had to come and meet me and i'd be happy to cooperate and get this sorted. But they continue to say the same reasons they gave to the person who started this thread.
This is a very shady area of law which gives way too much power to the banks, You cannot even fight for your money back. In my view they are the criminals because it wasn't until searching threads like this had i clocked on to what they were doing. I even called the police to report them! I have already made a complaint to the Financial Ombudsman Service too.
I don't mind them doing the checks, but if they were more honest about it and asked me straight up. I just need enough to live in , but they took everything ,
i just want to know when they will return the money , but they do not give me a time frame, i need to live my life work and plan ahead. This all started 26/4/2013

pqrdef

bengal-stripe wrote: »

Where did the money come from in the first place? Did you deposit it as cash/cheque? It obviously wasn't a transfer (with an audit trail), as it was "deposited......at (the) local branch". Now, after only three weeks, you want that same money back and in cash.

I'm afraid, that will ring money-laundering or proceeds-of-crime alarm bells. The bank is obliged by law to check out the transactions are legitimate.

Well of course. I mean, I'm an armed robber, and that's exactly what I always do with my ill-gotten gains.

pqrdef

tagq2 wrote: »

<Bank computer or human> NCIS, this transaction happened.
<NCIS computer> OK, let me check to see whether this guy has a history of suspicious transactions or this transaction is particularly egregious. Stall the transaction.
<Bank computer> OK.
<NCIS computer> Hm, I don't like it, let me notify a human to review matters. Continue stalling.
<Bank computer> OK.
(when a human gets round to it)
<NCIS human> Let me look through other records about this guy from banks or elsewhere... I wonder if any other government department has details...
<Other government department computer> Nothing to see.
(when another human gets round to it)
<Other government department human> I don't have anything interesting on this guy.
<Yet another " " "> Ditto.
(when overworked initial human gets back round to it)
<NCIS human> Seems legit.
<NCIS computer> Bank, let him have his cake.
<Bank computer> OK.

If it's only a question of checking whether you're akready known to the authorities, it would be simpler to flag the accounts of people who are. Then there'd be no point in checking unflagged accounts because they'd know they weren't going to find anything.