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Santander trying to steal £14,200 from me
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So you did make business transactions on your current account. As a previous poster has mentioned, that might be the reason for the block.
If you have nothing to hide, why don't you present the details of your transactions to Santander so they can remove the block?
I have provided Santander with all the evidence I have, they are demanding I get a signed statement from the sender saying that the transaction is legitimate, which is obviously impossible because this is chargeback fraud.0 -
I have provided Santander with all the evidence I have, they are demanding I get a signed statement from the sender saying that the transaction is legitimate, which is obviously impossible because this is chargeback fraud.
Unfortunately, it appears that you've been speculating on untangible items and have been scammed by a fraudster.
I would imagine that because of large payments in to the account (and possibly out again) Santander have decided to freeze your account whilst they investigate suspected money laundering and is probably unconnected to the paying back of the £7,200.
The paying back of the £7,200 is not a chargeback as these do not exist for bank transfers. What is more likely is that the person who has bought the bitcoins is either claiming that the transfer was not authorisused by them (or they have used someone else's account) and it is being treated as a fraudulent transaction.0 -
I am still not clear where "chargeback fraud" comes into this because you said the payment was made by bank transfer.
As has been explained before, there are no chargebacks for bank transfers.
It is much more likely that your account has been locked because Santander believe something untoward is going on.
It makes no sense that Santander would ask for the sender to sign that the transaction is legitimate - - any money launderer could sign that their transactions are legitimate!
It is for you to prove that you received the money for a legitimate transaction. If you cannot prove this, you may lose the money and potentially get prosecuted. However, you suggest you have used what sounds a legitimate firm (bitbargain.co.uk) to process the transaction. Therefore I don't see the problem why you can't prove to Santander that your transaction was legit.
I also don't understand why you didn't raise a formal complaint with Santander before you you went to the FOS. The FOS will do nothing until Santander have had up to 8 weeks to resolve the matter to your satisfaction.0 -
I agree that this is the most likely scenario so far - a hacked online bank account. Buying something like bitcoins is the best way to cover the tracks and to launder the stolen money....What is more likely is that the person who has bought the bitcoins ...have used someone else's account... and it is being treated as a fraudulent transaction.
Most likely the account owner either knows nothing about bitcoins or is a part of the scam (i.e. is in cahoot with the 'hacker' - that will be next to impossible to prove).0 -
Unfortunately, it appears that you've been speculating on untangible items and have been scammed by a fraudster.
more or less accurate, I wouldn't say speculation, more trading.I would imagine that because of large payments in to the account (and possibly out again) Santander have decided to freeze your account whilst they investigate suspected money laundering and is probably unconnected to the paying back of the £7,200.
Possibly, but that is not what they are saying to me, the £7,200 may well just be a lie to tell me while they investigate me for money laundering.The paying back of the £7,200 is not a chargeback as these do not exist for bank transfers. What is more likely is that the person who has bought the bitcoins is either claiming that the transfer was not authorisused by them (or they have used someone else's account) and it is being treated as a fraudulent transaction.
That's pretty much what I meant by chargeback, sorry if I used the wrong term.I am still not clear where "chargeback fraud" comes into this because you said the payment was made by bank transfer.
Because the scam is pretty much the same, but only via a bank transfer, sorry if I'm using the wrong terminology.It is much more likely that your account has been locked because Santander believe something untoward is going on.
It makes no sense that Santander would ask for the sender to sign that the transaction is legitimate - - any money launderer could sign that their transactions are legitimate!
I agree - it's ridiculous, I tried to point out to them that they are giving me no real option here, because if it's a chargeback-type fraud, he's not gonna sign, and if it's a stolen account, he's not gonna sign, there's no way to win.It is for you to prove that you received the money for a legitimate transaction. If you cannot prove this, you may lose the money and potentially get prosecuted. However, you suggest you have used what sounds a legitimate firm (bitbargain.co.uk) to process the transaction. Therefore I don't see the problem why you can't prove to Santander that your transaction was legit.
I can prove everything, the whole chain of events. I can prove myself buying the coins in, sending them to bitbargain.co.uk, bitbargain moving them to his account, and him withdrawing them from bitbargain, the site administrator is also cooperating with the investigation.I also don't understand why you didn't raise a formal complaint with Santander before you you went to the FOS. The FOS will do nothing until Santander have had up to 8 weeks to resolve the matter to your satisfaction.
Because Santander are being utterly unreasonable (see above) and they told me to leave the branch and take it up with the financial ombudsman or they would call the police to have me escorted out.0 -
I can prove everything, the whole chain of events. I can prove myself buying the coins in, sending them to bitbargain.co.uk, bitbargain moving them to his account, and him withdrawing them from bitbargain, the site administrator is also cooperating with the investigation.
This bit confuses me. I know nothing about bitcoin trading, but it would appear to me that bitbargain is acting as an intermediary. Do they act in an escrow role?
It seems odd that you give the coins to bitbargain and they do the transfer, but don't actually get involved in the payment side of things.0 -
This bit confuses me. I know nothing about bitcoin trading, but it would appear to me that bitbargain is acting as an intermediary. Do they act in an escrow role?
That is correct, they hold the bitcoins in escrow, it is a way of proving to the buyer that I have the bitcoins, and also handle dispute resolution.It seems odd that you give the coins to bitbargain and they do the transfer, but don't actually get involved in the payment side of things.
That's pretty much how it is, I transfer the coins into bitbargain, but the bank transfer is made to me personally, the idea is that bitbargain can hold the bitcoins in escrow and resolve any disputes if anything goes wrong.0 -
That's pretty much how it is, I transfer the coins into bitbargain, but the bank transfer is made to me personally, the idea is that bitbargain can hold the bitcoins in escrow and resolve any disputes if anything goes wrong.
So you got the money in your account and then told bitbargain to release the coins to the buyer. Makes sense - bitbargain wouldn't want to be involved in holding the money as that would mean that they would need to be regulated.
I think there are 2 possible scenarios here, both of which involve a suspicion of money laundering.
1. The "buyer" is a fraudster and the money is being claimed back as a fraudulent transfer and this has some how triggered someone (or a system) to review your account and see a number of large payments going in and out.
2 THe large value transactions has triggered the money laundering systems and the "clawback" is a fib by a bank employee who didn't know what to tell you as he couldn't reveal the real reason your account had been frozen (tipping of a money launderer is a criminal offence and would see the employee personally charged).
The problem is that e-currency has a reputation of illigal uses, due to being virtually untracable, so you explaining to Santander what you are doing could well have added to their suspicion of money laundering.0 -
@gb12345 I agree with all of that really, people like me are working hard to enable more legitimate use of bitcoins, I am doing things like working with the HMRC to establish the tax situation, setting up a legitimate business, and once those are done I hope to enable local shops.
I agree that either of those scenarios are certainly a possibility, but unfortunately the situation still stands that Santander have taken every penny I have
On the bright side, I spoke to the Santander fraud department after filing a complaint with the financial ombudsman and they are seeming to be far more reasonable now. They have requested proof of the trade, which I have sent, I am awaiting a call back from them which may well resolve this issue
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