HELP!!!! Bank Account Frozen / No-ops

DCFC79

benog1985 wrote: »

A spare account would be useless in this instance as I can't transfer money from my account

You pay in an amount each month so you have a fail safe if for some reason you cant access account #1 but if you need access to some cash you can use whats in account #2 (obviously depends if enough has been payed in).

benog1985

grumbler wrote: »

You look really worried. If you have nothing to hide and have not done anything wrong, just relax and wait until they bother to finish their 'investigation.

I worry about anything, that's just how I am. Need to take your advice and try to relax!!

meer53

grumbler wrote: »

I start thinking that you do have some hidden reasons for being worried.

Not that i want to agree with you Grumbler but the OP does seem overly worried. Even after we've all tried to put their minds at rest.

I suppose those of us who work in banks tend not to worry so much about stuff like this, there's sod all the OP can do, if they're not happy with the way it's been handled when it's all sorted, a complaint will be justified.

LardyCake

dktreesea wrote: »

... Muling involves the overseas party paying money to you, say via paypal for a bogus ebay item. They cover the cost of the ebay side of things and you pass onto them the money, less a commission, once you pay down your paypal account into your personal bank account.

Banks nowadays take a very close look at these kinds of transactions. Especially if you have several payments a month from sources like Paypal instead of just the odd one off they might expect to see for people selling the odd item privately online.

Hmm, strikes me that British banks aren't always so careful:
http://www.bbc.co.uk/news/business-18880269
In that case the baddies were just handing in boxes of cash ($881 million apparently) at the bank counter with no questions asked.

benog1985

meer53 wrote: »

Not that i want to agree with you Grumbler but the OP does seem overly worried. Even after we've all tried to put their minds at rest.

I suppose those of us who work in banks tend not to worry so much about stuff like this, there's sod all the OP can do, if they're not happy with the way it's been handled when it's all sorted, a complaint will be justified.

My work colleagues have said exactly that: there's nothing I can do but wait....that's what I'm going to do.

You guys have put my mind at ease, I just can't help but think the worst, especially when I know I've nothing to hide or done nothing because it makes me think even more "what's happening". I also worry because I have direct debits to go out and bills to pay, who wouldn't worry about that unless you had other means of income which I don't!

I'm gonna to wait it out and I'll let you know the outcome. I do feel better now the bank manager is helping me out and has let me withdraw some money.

henm2

re money laundering

All staff in the financial industry will usually take money laundering legislation very seriously and if they do not then there can be very serious individual penalties.http://www.articlesbase.com/investing-articles/important-things-you-should-know-about-money-laundering-1759670.html

"1. Person who is directly related to money laundering can be penalized 14 years imprisonment and/or fine.
2. A person who is responsible for failure to report information may be given 5 years imprisonment.
3. 5 years imprisonment is given for tipping off a suspected launderer; it means suspected launderer must not be alerted."

SingleSue

meer53 wrote: »

Not that i want to agree with you Grumbler but the OP does seem overly worried. Even after we've all tried to put their minds at rest.

I suppose those of us who work in banks tend not to worry so much about stuff like this, there's sod all the OP can do, if they're not happy with the way it's been handled when it's all sorted, a complaint will be justified.

To be honest, to normal people like me, if my account had been frozen, my money unavailable to me, bills to pay etc, I would be a tiny bit worried (as well as very very angry) and no amount of people telling me to calm down and relax would make a difference.

Nope, I would want my money available to me and not in a few days or weeks but straight away, I would want to be able to pay my bills or buy food without having to beg for what is my own money and anybody telling me to chill out would receive very short thrift! Would I care about AML laws and being told about the procedures? Would it make me relax? Nope, not a jot, I would be worrying about far more basic things.

Wouldn't make me guilty though, just someone rather stressed out and worried about paying bills, keeping a roof over my head and buying food for my family.

grumbler

henm2 wrote: »

re money laundering

All staff in the financial industry will usually take money laundering legislation very seriously and if they do not then there can be very serious individual penalties.http://www.articlesbase.com/investing-articles/important-things-you-should-know-about-money-laundering-1759670.html

"1. Person who is directly related to money laundering can be penalized 14 years imprisonment and/or fine.
2. A person who is responsible for failure to report information may be given 5 years imprisonment.
3. 5 years imprisonment is given for tipping off a suspected launderer; it means suspected launderer must not be alerted."

Why are you quoting this?
Has anybody here suggested that the bank staff should have failed to report or should have 'tipped' the OP?

I think for a real ML a frozen account is the best possible 'tip' that any further alleged tips can't outdo.

ERICS_MUM

I retired from a bank some years ago but I remember accounts being "frozen" for a few reasons:

1. attempted fraud by a 3rd party - for example a cheque apparently issued by the account holder but found to be fraudulent when examined by the branch. Or someone attempting to pay in a large sum

2. on the instructions of HMRC re suspected tax or VAT fraud (e.g. your Paypal stuff)

3.the title of your account, or details on a payment made into/ out of it being the same/similar to a name on a "suspect" list the bank holds

4. The bank investigating your Paypal activity - business on a persoanl account

benog1985

ERICS_MUM wrote: »

I retired from a bank some years ago but I remember accounts being "frozen" for a few reasons:

1. attempted fraud by a 3rd party - for example a cheque apparently issued by the account holder but found to be fraudulent when examined by the branch. Or someone attempting to pay in a large sum

2. on the instructions of HMRC re suspected tax or VAT fraud (e.g. your Paypal stuff)

3.the title of your account, or details on a payment made into/ out of it being the same/similar to a name on a "suspect" list the bank holds

4. The bank investigating your Paypal activity - business on a persoanl account

Thanks for your advice.

In relation to point 2, would HMRC not just write to me though? Or wait for my tax return?

I'm not going to speculate any more, need to wait and see what happens I suppose.