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Santander blocked account- help!

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
109 replies 6K views
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  • xlnc99xlnc99 Forumite
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    If you had a proper education you would know it is 'know about' not 'no about'.
    Just ask anybody working in financial services about the training they receive and the scenarios they are shown as to what is and is not money laundering.
    Money in and money straight out is top of the list.

    So first it was for me to look on the threads for the thousands of posts that back up your claim... then when you couldnt find a single one you have no changed it to 'ask the experts' ...

    This is like a comedy club. Yet again you and anyone else who comes to question me i ask for just on example of online money laundering .....

    Should be easy shouldnt it? But thats only if u no what money laundering actually means
  • Willing2LearnWilling2Learn Forumite
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    @ xlnc99 - If you cross-reference the definition of 'Money Laundering' on Google UK, then you will find they are all very similar.

    https://www.google.co.uk/search?q=money+laundering+definition&ie=&oe=
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • colstencolsten Forumite
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    xlnc99 wrote: »
    oh and as for 'season experts'
    Are you by any chance dyslexic?
  • xlnc99xlnc99 Forumite
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    Yawn........

    Move along Colsten
  • dreamingdreaming Forumite
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    xlnc99 wrote: »
    Ahhh yes... another expert who doesnt know what money laundering is. Watching too many movies i fear....

    'money in money out before they are caught;

    LOL. No response needed....

    Oh and yes the thousands of posts that show online bank transfers as money laundering...... so everyone keeps alluding too... yet no-one can produce a single one... strange that

    or perhaps because it does not exist...

    just a thought

    Oh dear are you still insisting that no-one on here knows what they are talking about - despite my over 20 years experience of working in finance and some posts from someone who is a Money Laundering officer, not to mention other regular posters who, in my opinion, have a great deal of collective knowledge?

    The chances are that many/most such large transactions as the OP made are neither money laundering nor fraud and the transaction(s) will be allowed to proceed in due course. In the OP's post they state they have provided the relevant loan documentation etc. but it will take some time for the bank to make sure they are genuine and the funds to be released. I agree with previous posters that it does seem an odd series of events - obtain a loan, have it paid into a bank account in the borrower's name then transfer (or attempt to) to a 3rd party's account at another bank - especially when the 3rd party holds an account with the borrower's bank. It certainly isn't how I would transfer the cash, and I have actually been recently moving my funds around to obtain better interest rates or switching/regular savers incentives. I appreciate that people who are not used to banks' various checks may undertake this type of cash transfer without realising the implications. So, assuming the OP and partner are innocent of any wrong-doing motivation (and we don't know that for certain do we?) what they did was not illegal; however the bank has correctly blocked this transaction from completing to ensure that this it is a genuine transaction and not part of a money laundering process (and banks themselves talk about "money in, money out" - it's not just in the movies), fraud, or co-ercion by one partner to take out a loan on the other's behalf (that happens in real-life too).
    You say you only post what you know about. Can you explain where you have obtained your knowledge from? Have you worked in the financial industry, or on a fraud squad for example, or even been part of/victim of such practices? Just interested really, as I often learn as much from incorrect statements on this site as from the correct ones. By that I mean if I read something I am unsure about I will take steps to learn for myself whether the information I have read is correct. I hope, however, that all of my posts are (reasonably) respectful even if I totally disagree.
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • [Deleted User][Deleted User]
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    xlnc99 wrote: »
    You are one of these posters who seem to pop up on everythread giving completely wrong information on about 90% of them.

    Pot-kettle springs to mind here :cool:
  • [Deleted User][Deleted User]
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    MoneySaving Newbie
    xlnc99 wrote: »
    Yawn........

    Move along Colsten

    Avoiding more questions I see.
  • xlnc99xlnc99 Forumite
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    dreaming wrote: »
    Oh dear are you still insisting that no-one on here knows what they are talking about - despite my over 20 years experience of working in finance and some posts from someone who is a Money Laundering officer, not to mention other regular posters who, in my opinion, have a great deal of collective knowledge?

    The chances are that many/most such large transactions as the OP made are neither money laundering nor fraud and the transaction(s) will be allowed to proceed in due course. In the OP's post they state they have provided the relevant loan documentation etc. but it will take some time for the bank to make sure they are genuine and the funds to be released. I agree with previous posters that it does seem an odd series of events - obtain a loan, have it paid into a bank account in the borrower's name then transfer (or attempt to) to a 3rd party's account at another bank - especially when the 3rd party holds an account with the borrower's bank. It certainly isn't how I would transfer the cash, and I have actually been recently moving my funds around to obtain better interest rates or switching/regular savers incentives. I appreciate that people who are not used to banks' various checks may undertake this type of cash transfer without realising the implications. So, assuming the OP and partner are innocent of any wrong-doing motivation (and we don't know that for certain do we?) what they did was not illegal; however the bank has correctly blocked this transaction from completing to ensure that this it is a genuine transaction and not part of a money laundering process (and banks themselves talk about "money in, money out" - it's not just in the movies), fraud, or co-ercion by one partner to take out a loan on the other's behalf (that happens in real-life too).
    You say you only post what you know about. Can you explain where you have obtained your knowledge from? Have you worked in the financial industry, or on a fraud squad for example, or even been part of/victim of such practices? Just interested really, as I often learn as much from incorrect statements on this site as from the correct ones. By that I mean if I read something I am unsure about I will take steps to learn for myself whether the information I have read is correct. I hope, however, that all of my posts are (reasonably) respectful even if I totally disagree.

    You have indeed very respectful and you are one of the very few people on here that actually know what they are talking about so i do indeed listen to your views and opinions with great interest. I do have experience in the financial industry and have thorough knowledge of certain subjects through my past experience and i have dealt with all sorts of situations in the financial market. I dont have the 20 years you do though so i applaud you for that.

    My main point is that and maybe you can answer as no-one seems to have the answer. Can you give me one example of money laundering which is done through online faster payments/chaps/bacs etc. It doesnt exist, for that to happen someone must be stupid enough to go into the bank and deposit cash then do online transfers. However that is easily traced and caught so i am not referring to cash deposits followed by online transfer. How do you launder money even if you transfereed 100k to 100 different accounts, that is not money laundering. That is my point im trying to make.

    People seem to be confused in thinking money laundering is transferring money to different accounts. Not true, very simply put its turning dirty money into clean money. Unless the online transfers are already dirty you cannot money launder online it has be be 'clean' first, either through cash businesses etc

    That is my point. nothing more
  • xlnc99xlnc99 Forumite
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    All i am asking for is one example of how someone can launder money through online transactions. I keep hearing insults and excuses but no examples..........

    Even though there are 'thousands' about apparently
  • 18cc18cc Forumite
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    I am no expert but this is how I always assumed it would happen through faster payments.

    The baddy pays say £20k to a 'clean' account - could be yours, your daughters, anyone's.

    That person then forwards it on to a second account less of course a deduction of say £500 or £1k for their trouble.

    All dirt removed.
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