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Help please - investment fraud
VfM4meplse
Posts: 34,269 Forumite
Am hoping for some expert advice from regulars in this board.
A friend of mine works abroad quite often, posted on behalf of his UK firm. He manages all his finances electronically; I collect his post (he lives in a communal building) and make sure his home is secure, which thank goodness it has been. He's also as careful with information security around his personal business as he is expected to be with his employers.
He's back atm, and having checked one of his ISAs (stocks and shares), found that the balance is zero. Someone hacked into his account, transferred the money into his linked BS a/c, set up another linked a/c with the same BS and siphoned the money out. He's several thousands of pounds out of pocket.
He's alerted the BS to this, and their view is that he should be talking to the ISA provider, even though the money would have been extracted through their atms. Co-incidentally, there have been a number of items of post received to his address with someone else's details on them - including cc pins.
He has limited time to act before he needs to go out on business. What steps should he be taking to unravel this, ensure the rest of his online business is secure and get his money and his ISA allowance for that year back? There's a question mark over the security of the post that is delivered to the building - although IME there have been known breaches in Royal Mail's own security in East London - would having some post re-directed to another address be a legal solution? Am I right in thinking that this matter should be reported to the police and a crime ref no be noted? Would he be wise to seek an Experian check independently, or should this be left to the police?
So many questions - can anyone share the A-Z of how to manage this given that the BS is trying to pass the buck?
TIA
A friend of mine works abroad quite often, posted on behalf of his UK firm. He manages all his finances electronically; I collect his post (he lives in a communal building) and make sure his home is secure, which thank goodness it has been. He's also as careful with information security around his personal business as he is expected to be with his employers.
He's back atm, and having checked one of his ISAs (stocks and shares), found that the balance is zero. Someone hacked into his account, transferred the money into his linked BS a/c, set up another linked a/c with the same BS and siphoned the money out. He's several thousands of pounds out of pocket.
He's alerted the BS to this, and their view is that he should be talking to the ISA provider, even though the money would have been extracted through their atms. Co-incidentally, there have been a number of items of post received to his address with someone else's details on them - including cc pins.
He has limited time to act before he needs to go out on business. What steps should he be taking to unravel this, ensure the rest of his online business is secure and get his money and his ISA allowance for that year back? There's a question mark over the security of the post that is delivered to the building - although IME there have been known breaches in Royal Mail's own security in East London - would having some post re-directed to another address be a legal solution? Am I right in thinking that this matter should be reported to the police and a crime ref no be noted? Would he be wise to seek an Experian check independently, or should this be left to the police?
So many questions - can anyone share the A-Z of how to manage this given that the BS is trying to pass the buck?
TIA
Value-for-money-for-me-puhleeze!
"No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio
Hope is not a strategy
...A child is for life, not just 18 years....Don't get me started on the NHS, because you won't win...I love chaz-ing!
"No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio
Hope is not a strategy
...A child is for life, not just 18 years....Don't get me started on the NHS, because you won't win...I love chaz-ing!0
Comments
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A crime has occurred (theft and fraud), so this should certainly be reported to the police. http://www.met.police.uk/fraudalert/identity_fraud.htm
What does the ISA provider have to say? Presumably your friend has taken up the matter with this company?
The question really is whether one or both will be responsible for reimbursing your friend?
http://www.identitytheft.org.uk/0 -
If somebody removed money from your friend's BS account, it's none of the BS's business where the money came from. I don't see there was any need to tell them about the ISA."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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It was a linked account - the money could only travel in and out of the ISA a/c through it, although multiple accounts could be attached to the BS one which is how the money flowed out.I don't see there was any need to tell them about the ISA.
He's been going through his credit cards and found thousands spent across the ones he never uses - some MF has called them, changed "his" email address and has been spending like hell. Luckily conversations have been recorded so I hope whoever is behind this goes to jail. Who knows what will be uncovered next. He's almost certain that it's down to his post being intercepted.Value-for-money-for-me-puhleeze!
"No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio
Hope is not a strategy...A child is for life, not just 18 years....Don't get me started on the NHS, because you won't win...I love chaz-ing!0 -
Update: my friend spent his holiday tracking down the damage to his finances before returning to work abroad. He reported the matter to the police for a crime reference but got the impression that it was unlikley that they would bother to investigate.
Now back at work (and abroad) he's finding that the fraudster's still at large and opening up more cc accounts in his name. What can he do? Given that the fraudsters still active, why can't s/he be caught?Value-for-money-for-me-puhleeze!
"No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio
Hope is not a strategy...A child is for life, not just 18 years....Don't get me started on the NHS, because you won't win...I love chaz-ing!0 -
What a terrible thing to have happened. Can you get to his post everyday? Any chance it could be someone else in the building?0
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If there is genuine fraud occurring, and neither the banks nor the police will act to stop the culprit and punish them appropriately, go to the Press, and to your MP.0
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http://www.identitytheft.org.uk/who-can-help.aspNow back at work (and abroad) he's finding that the fraudster's still at large and opening up more cc accounts in his name. What can he do? Given that the fraudsters still active, why can't s/he be caught?0
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