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Need help - Denied access to bank account

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  • Ergates
    Ergates Posts: 3,033 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    So what does this mean? My account is locked since it was "limited". I have zero access to my funds OR ACCOUNT

    When you say "account" - are you referring to your bank account, as in a normal current account with a high-street bank? (Lloyds, Halifax, Santander, etc). OR, are you referring to your account with the dodgy crypto firm*?

    *bit of a tautology that...
  • 18cc
    18cc Posts: 2,120 Forumite
    Yes it does say bank account in the title but reads as though it might be the crypto account so some clarification might help
  • Justin_Sane
    Justin_Sane Posts: 5 Forumite
    edited 21 June 2019 at 5:32PM
    Its a company registered with the SEC. When i talk about my account, i mean my account on that cryptocurrency company (thus crypto account - i tried editing the title but couldn't.). Looking at the time of this occuring, it is pretty questionable that these concerns are legit, but is rather a way to screw me as they found out i was sharing my research (=facts) with others.


    I did send them all the documents needed to proof my innocence 2 weeks ago. I'd say this is long enough for them to 're-open' my account.
  • eskbanker
    eskbanker Posts: 37,037 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Like others, I took the reference to 'bank account' at face value, but if you're actually saying that you paid a cryptocurrency company who aren't allowing you access then that's an entirely different ball game, and one which involves a somewhat less optimistic outcome than if your money was held by a genuinely regulated institution.

    These boards are littered with reports of punters who've 'invested' in companies claiming to offer trading in crypto, FX, binary options, etc, and the common theme across them all is that it's practically impossible to get your money out again.

    These organisations, despite sometimes claiming some sort of affiliation with recognised bodies such as the SEC, are generally complete cowboys who are actually unregulated, so chances are they're just using delaying tactics to throw you off the scent while they disappear over the horizon, never to be seen again.

    As you've seemingly already blown your cover with this company, there seems little value in continuing with all the dripfed cloak-and-dagger stuff and so you might wish to name them on here so others can see if there are any clues or prospects of seeing your money again, but realistically you ought to set your expectations on the basis that you've been scammed, unless they're genuinely regulated by a meaningful authority....
  • I think crypto currencies is a bit like the wild west of finance. Maybe in the future it will become the norm: but at the moment they are largely unregulated. Just seems very risky thing to be involved with.
  • Ergates
    Ergates Posts: 3,033 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    eskbanker wrote: »
    These organisations, despite sometimes claiming some sort of affiliation with recognised bodies such as the SEC, are generally complete cowboys

    Steady on now, that's a bit insulting... to cowboys.
  • jonnygee2
    jonnygee2 Posts: 2,086 Forumite
    1,000 Posts Second Anniversary Name Dropper Combo Breaker
    Its a company registered with the SEC. When i talk about my account, i mean my account on that cryptocurrency company (thus crypto account - i tried editing the title but couldn't.).

    You might be better off posting on a US forum (somewhere on Reddit?). I don't know if anyone here knows the process in the States, I imagine their AML law is pretty different.

    I'm also not really sure what level of consumer protection is offered by the SEC.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    In simple terms IMO the money has gone and the OP has been defrauded - NEXT!
  • Kentish_Dave
    Kentish_Dave Posts: 842 Forumite
    I’d agree with the others, it sounds like a pretty basic scam and I think that your money has gone,

    What you should do next depends on the amounts, how much was it?
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 23 June 2019 at 12:45PM
    If you going to invest in cryptocurrencies just invest an amount your willing to lose and not huge amounts and use an account you can afford to lose access to.
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