Bank scam

Pace_maker

My son 16 year old son has stupidly given his card details to someone who in turn gave it to someone else after a threat had been made to my son, the person transferred money from an overseas account into his account. Before for the funds were cleared the person withdrew up to £2000, now leaving him a £2000 debt. Even though the bank said they may clear the funds as he is underage, a fraud marker will now be placed on his account, preventing him from getting anything in his name.

What are the implications of this, how long does it last and can anything be done about it?

Thank you.

colsten

Can you explain in detail how the account of a minor got overdrawn?

chambta

The post suggests funds were withdrawn a lodgement that was subsequently reversed.

agrinnall

I read it as the incoming payment has not been cleared yet, although the bank are saying they may still do so. What I can't understand is how the bank allowed the £2000 to be withdrawn when there were no cleared funds in place and it caused the account to go overdrawn. I'd say that's the banks responsibility, and the OP's son should not be left with the debt.

However, the CIFAS marker is another matter, and it seems pretty reasonable that it should be put against him as a warning to other financial institutions. He may well have difficulty for some years getting anything other than a basic account, and even that may be a struggle at first.

grumbler

This is a typical ML scam.
Funds get transferred from a hacked account to a 'mule' that has to withdraw them ASAP or transfer to the given other account for a 'cut'.
Fraudulent transfer gets reversed later, the 'mule' is in deep !!!!.

The story is inconsistent as the 'card details' can't be used for transferring money into account and for withdrawing/transferring money out, although they can be used for purchases and, say, for paying off a credit card.

A CIFAS market well deserved IMHO.

thenudeone

grumbler wrote: »

The story is inconsistent as the 'card details' can't be used for transferring money into account and for withdrawing/transferring money out

Well, the details written on every debit card (sort code and account no.) are certainly sufficient for anyone to pay money in to the account, but since they are written on the face of the card (which you give to strangers in shops every day) and on every cheque, they are hardly secret.

But to withdraw £2000, something else must have been done by your son: either full bank login details were provided, or the card plus PIN were provided, or your son wrote a cheque; all of which means he has been either very naive, or complicit in the fraud.

If there were genuine threats of violence in order to get your son to do what was required, it MIGHT be worth getting the Police involved, although their actions are unlikely to make any difference to the banks' decision to place CIFAS marker, and it could backfire.

Pace_maker

Guys to further clarify on the situation, he was threatened and pin number was supplied, this person then withdrew money from multiple atms and even went into the bank posed as him and withdrew the rest. I don't know how the scam really works but this is what I was told by the bank.

Joe_Bloggs

I thought banks had CCTV to protect their customers and themselves from criminals wishing to use intimidation and exploit human weakness. Has this kind of offense has happened before ? ( Possibly gang related /organized criminal activity ?).

I doubt that the bank or police can do anything as they are next to useless in solving these crimes. Perhaps It is just a crime statistic that can be forgotten or explained away by some other distraction by a PR consultant.

If it were me I would contact the police and your MP.
J_B.

Why is CCTV always so poor that you cant see the faces of people given the increased resolution of digital cameras over the past decade.

Pace_maker

My only worry with the police is, once they do what they're obliged to do, will any protection be offered afterwards? This person knows my home address, and I really don't want to risk it.

If he can't open another account how will he be able to go to university?

I just don't know what to do at this stage.

ViolaLass

So you want it to be fixed but you don't want to involve the police? What solution do you propose?

grumbler

Joe_Bloggs wrote: »

If it were me I would contact the police and your MP.

I don't see any point in getting the MP involved unless the police fail to do their job.