Money laundering with my current account

BASFORDLAD

Haha at the fraudster. Someone is going to be !!!!ed of tonight!!!

Glad that you havent seen suffered any loss.

clueless1682

MABLE wrote: »

Really not sure the logic behind it. Would be good if someone with experience of this type of thing could offer some explanation.

There's a few reasons why fraudsters would do this - basically whats happened in this case, fraudsters have hacked into person A and person B who have no association with each other but are genuine customers, possibly from phising emails, keylogger viruses etc.

Money transferred from A to B fraudulently, then further attempt from person B to person C (C being the fraudster).

If the bank were to review the payment from A to B, as B is a genuine customer, probably been with the bank for many years and using the account for bills and so on, the transfer then looks genuine and probably isn't queried.
Transfer from B to C then requested after would be 'logical' as is on the back of money coming into the account. Example would be, person A bought a car from B, B then buying a car from C. Thus the fraudsters are trying to make a convincing trail of money so the bank will not question it.

Doesn't happen very often, as others say, its easier just to go from A to C, but assuming the £23k was from all stolen from other customers in an attempt to get moved on, its the old 'high risk high reward' scenario to them.

Well done to your bank for being on the ball with your account and picking up on it - I'm sure the other customers who are missing their money are less amused though!

Macca83_2

If the fraudster filters it through several accounts it makes it harder to trace where the funds have come from.

MABLE

Upate

Got my online account restored today and looking at it the fraudsters had in fact deposited nearly £60k into my account and bank confirmed it was fraudently take from other online accounts and I was being used as a mule. The really good news the fraudsters did not get one penny despite of what my earlier post may have indicated.

Also the fraud dept were brilliant.

MoneySaverLog

And hopefully the rightful owners of the money will get their money back :-)

MABLE

MoneySaverLog wrote: »

And hopefully the rightful owners of the money will get their money back :-)

I'm surprised it has not been moved from my account into a suspense account. At least they know where it is now.

innovate

MABLE wrote: »

I'm surprised it has not been moved from my account into a suspense account. At least they know where it is now.

Several things don't sound right there.

Firstly, as meer53 already mentioned, it's illegal for a bank to tell you they are investigating your account in the context of money laundering.

Secondly, it really doesn't sound right that the bank would give you access to the account again, with all the fraudulently transferred money still in it.

Thirdly, would you really want to continue using an account that someone probably has hacked into? For your own security, you shouldn't, even if the bank would let you . I'm surprised also that you didn't mention change of login details etc.

MABLE

innovate wrote: »

Several things don't sound right there.

Firstly, as meer53 already mentioned, it's illegal for a bank to tell you they are investigating your account in the context of money laundering.

Secondly, it really doesn't sound right that the bank would give you access to the account again, with all the fraudulently transferred money still in it.

Thirdly, would you really want to continue using an account that someone probably has hacked into? For your own security, you shouldn't, even if the bank would let you . I'm surprised also that you didn't mention change of login details etc.

Well they did give me online access and the money stolen is still there. Its not my problem if you do not believe what has happened. The main thing is it has and yes all my login details have been changed. They sent me a form and asked me to provide new login details and I had to submit two formS of ID.

meer53

Don't know which bank this was but they don't sound too clever ! I'd be moving my account if i was the OP !

SnowTiger

meer53 wrote: »

Don't know which bank this was but they don't sound too clever ! I'd be moving my account if i was the OP !

Me too, and I'd take the £60,000 with me. :j

After a quick glance at OPs history I'd guess it's LLoyds.