Adverse loading on fraud database

eskbanker

APAlison12 said:

The original source of the money is birthday Christmas money and £40 a month from mum!!!!

I think you perhaps missed the point I was making, i.e. that he can't know for sure where his friends got the money that they used to pay him back:

eskbanker said:

That depends on the original source of the money that's used to repay the loans.

Thrugelmir

APAlison12 said:

The original source of the money is birthday Christmas money and £40 a month from mum!!!!

The accounts that the transactions are going to/from will have most likely triggered the investigation. Being a connected party is the issue.

masonic

Thrugelmir said:

masonic said:

charb87 said:

thats a shame children/ young adults are being used at the hands of criminals, i guess this is why bitcoin was invented.

CASH is a huge problem in this world.

BUY BITCOIN

Bitcoin was invented so criminals don't need to use children/young adults to launder their money? 

Drugs are sold for cash. The cash then needs to be "legitimised" first. Bitcoin doesn't buy itself. 

I was responding to the statement "thats a shame children/ young adults are being used at the hands of criminals, i guess this is why bitcoin was invented" with the question "Bitcoin was invented so criminals don't need to use children/young adults to launder their money?"

The statement implied bitcoin was invented as a solution to the problem of children being used by criminals. For the sake of clarity, I don't actually believe bitcoin was invented so criminals had another way to launder money.

Bitcoin is most commonly used by criminals to extort money from victims (e.g. through ransomware attacks, or cyber-blackmail).

APAlison12

Finally got CIFAS report and yes some of you were right my son who works hard attended church regularly before lockdown does not own any flash items has responded to adverts by an influencer on Instagram to make money.  People will think he’s either stupid or ignorant or didn’t care about the risks!!   He tells me there are ‘famous’ people advertising a way to make money that’s legal!!!!   He replied to one of the adverts and was contacted on Snapchat.  My son who I thought was honest and open with me opened an Monzo account online still 16 at the time and over the period of about a month received 4 payments totalling £1200 which he paid back out to accounts given to him.  He was told it would not affect his own bank and he would receive money for doing this but never told how much.  He never actually received any money for doing this.  His Monzo account was closed and he was told don’t worry that it was ok by the person on Snapchat.   I received a message from an unknown person in january on Facebook asking if I was related to my son. My son didn’t know this person and I didn’t reply.  I think they were trying to gain information regarding my maiden name or about my sons family as the some questions had not been answered correctly about the account to the bank.  My son was genuinely shocked when his Metro account was closed and thought he would be able to open an account at another bank which he did but was closed a day later.  He now has a CIFAS fraud marker against his name which I expect will stay there for 6 years.  I have tried to bring him up well but obviously not well enough and not spoken to him about financial risks.  His life at only just 17 is now ruined.  Unable to get a bank account, he will be unable to go to university cause he will have no account for a student loan. Unable to get a decent job cause no account to pay his wages into and certainly unable to work in finance. Some may think well that’s what he gets for trying to get easy money as there’s no such thing and he was stupid if he believed these influencers saying otherwise.  I know that this is money laundering and supports criminals in a whole range of activities and that my son was stupid for not thinking about or maybe not caring about the effects of money laundering but he’s certainly going to pay the price for this and so may other members of the family with the fraud linked to our home address.  

masonic

I'm sure nobody will take any pleasure from this development. Teenagers can do stupid things and the consequences in this case are severe.

Hasbeen

APAlison12 said:

Finally got CIFAS report and yes some of you were right my son who works hard attended church regularly before lockdown does not own any flash items has responded to adverts by an influencer on Instagram to make money.  People will think he’s either stupid or ignorant or didn’t care about the risks!!   He tells me there are ‘famous’ people advertising a way to make money that’s legal!!!!   He replied to one of the adverts and was contacted on Snapchat.  My son who I thought was honest and open with me opened an Monzo account online still 16 at the time and over the period of about a month received 4 payments totalling £1200 which he paid back out to accounts given to him.  He was told it would not affect his own bank and he would receive money for doing this but never told how much.  He never actually received any money for doing this.  His Monzo account was closed and he was told don’t worry that it was ok by the person on Snapchat.   I received a message from an unknown person in january on Facebook asking if I was related to my son. My son didn’t know this person and I didn’t reply.  I think they were trying to gain information regarding my maiden name or about my sons family as the some questions had not been answered correctly about the account to the bank.  My son was genuinely shocked when his Metro account was closed and thought he would be able to open an account at another bank which he did but was closed a day later.  He now has a CIFAS fraud marker against his name which I expect will stay there for 6 years.  I have tried to bring him up well but obviously not well enough and not spoken to him about financial risks.  His life at only just 17 is now ruined.  Unable to get a bank account, he will be unable to go to university cause he will have no account for a student loan. Unable to get a decent job cause no account to pay his wages into and certainly unable to work in finance. Some may think well that’s what he gets for trying to get easy money as there’s no such thing and he was stupid if he believed these influencers saying otherwise.  I know that this is money laundering and supports criminals in a whole range of activities and that my son was stupid for not thinking about or maybe not caring about the effects of money laundering but he’s certainly going to pay the price for this and so may other members of the family with the fraud linked to our home address.  

Really sorry to read your post and the outcome you have now from CIFAS after the last 10 days worrying about your son.  

I assume he was scared to tell you before this.

I also assume it is a category 6  CIFAS

I would try for online banks such as Starling, Monese, Cashplus, Eccount Money, Cardone Money etc. Perhaps others in a similar situation in the past would advise?

But he is young 17yrs. Marker will be off after 6 years from inception so he will be around 22-23?

So still young for career choices. 

This appears to be "widespread"?  amongst some students and they are still at UNI. They might have struggled to get an account but there does appear to be alternatives.

[Deleted User]

APAlison12 said:

Finally got CIFAS report and yes some of you were right my son who works hard attended church regularly before lockdown does not own any flash items has responded to adverts by an influencer on Instagram to make money.  People will think he’s either stupid or ignorant or didn’t care about the risks!!   He tells me there are ‘famous’ people advertising a way to make money that’s legal!!!!   He replied to one of the adverts and was contacted on Snapchat.  My son who I thought was honest and open with me opened an Monzo account online still 16 at the time and over the period of about a month received 4 payments totalling £1200 which he paid back out to accounts given to him.  He was told it would not affect his own bank and he would receive money for doing this but never told how much.  He never actually received any money for doing this.  His Monzo account was closed and he was told don’t worry that it was ok by the person on Snapchat.   I received a message from an unknown person in january on Facebook asking if I was related to my son. My son didn’t know this person and I didn’t reply.  I think they were trying to gain information regarding my maiden name or about my sons family as the some questions had not been answered correctly about the account to the bank.  My son was genuinely shocked when his Metro account was closed and thought he would be able to open an account at another bank which he did but was closed a day later.  He now has a CIFAS fraud marker against his name which I expect will stay there for 6 years.  I have tried to bring him up well but obviously not well enough and not spoken to him about financial risks.  His life at only just 17 is now ruined.  Unable to get a bank account, he will be unable to go to university cause he will have no account for a student loan. Unable to get a decent job cause no account to pay his wages into and certainly unable to work in finance. Some may think well that’s what he gets for trying to get easy money as there’s no such thing and he was stupid if he believed these influencers saying otherwise.  I know that this is money laundering and supports criminals in a whole range of activities and that my son was stupid for not thinking about or maybe not caring about the effects of money laundering but he’s certainly going to pay the price for this and so may other members of the family with the fraud linked to our home address.  

You can still open bank accounts with CIFAS, there are a couple that are fee paying but will still allow you to do it. Sad that your kid got suckered in, it is why schools and parents need proper education lessons in finance covering the sort of scams and frauds that were not prevalent even 10 years ago. While your son is a victim of this, at the same time, he still chose to earn money through a dodgy process without checking the risks.

FWIW though, fraud / credit issues are individual, not tied to an address. No-one but him would be directly affected by this except in very rare situations like some enhanced security checks which require details of people related to them committing fraud or having adverse credit problems e.g. the SC clearance for government work which requires you to provide details of your parents (and partner iirc) and if they have any fraud/bankruptcy issues.

APAlison12

Thank you I know know it was stupid not to check the risks incredibly stupid as a high achieving student but he was shocked when he saw the letter about what had caused it saying ‘they said there was no risk they said it was legal and risk free’.  They think these ‘influencers’ promoting it are famous and can be trusted.  I seriously failed to protect him as he is legally in so many ways a child.  

Hasbeen

You have protected him. By coming on here and asking for advice. You now both have a way forward.

Look at other bank accounts, online are more likely to offer some sort of account. I previously posted some above. May help.

When date did the CFAS get filed? It is six years from that date.

We all make mistakes no one is perfect. You both will recover from this and see no reason why he cannot continue on to UNI.

born_again

APAlison12 said:

Finally got CIFAS report and yes some of you were right my son who works hard attended church regularly before lockdown does not own any flash items has responded to adverts by an influencer on Instagram to make money.  People will think he’s either stupid or ignorant or didn’t care about the risks!!   He tells me there are ‘famous’ people advertising a way to make money that’s legal!!!!   He replied to one of the adverts and was contacted on Snapchat.  My son who I thought was honest and open with me opened an Monzo account online still 16 at the time and over the period of about a month received 4 payments totalling £1200 which he paid back out to accounts given to him.  He was told it would not affect his own bank and he would receive money for doing this but never told how much.  He never actually received any money for doing this.  His Monzo account was closed and he was told don’t worry that it was ok by the person on Snapchat.   I received a message from an unknown person in january on Facebook asking if I was related to my son. My son didn’t know this person and I didn’t reply.  I think they were trying to gain information regarding my maiden name or about my sons family as the some questions had not been answered correctly about the account to the bank.  My son was genuinely shocked when his Metro account was closed and thought he would be able to open an account at another bank which he did but was closed a day later.  He now has a CIFAS fraud marker against his name which I expect will stay there for 6 years.  I have tried to bring him up well but obviously not well enough and not spoken to him about financial risks.  His life at only just 17 is now ruined.  Unable to get a bank account, he will be unable to go to university cause he will have no account for a student loan. Unable to get a decent job cause no account to pay his wages into and certainly unable to work in finance. Some may think well that’s what he gets for trying to get easy money as there’s no such thing and he was stupid if he believed these influencers saying otherwise.  I know that this is money laundering and supports criminals in a whole range of activities and that my son was stupid for not thinking about or maybe not caring about the effects of money laundering but he’s certainly going to pay the price for this and so may other members of the family with the fraud linked to our home address.  

Thank you for taking the time to come back and update us.
Sadly, your son's experience is all to familiar story. And as you have found out can ruin a young person's future. Thankfully he is young enough to come out of this in a better and stronger way.
Many at University do the same & then find that their whole career path has been ruined as many companies will not touch people with this type of record on their financial history.

I hope he can find a way out of this and given his background, can find the strength to warn others of this matter. Talking to someone at school and getting a warning put out.