HSBC investigation has delayed international payment - what to do?

Ballard

brianposter said:

colsten said:

The guys orchestrating money laundering are most likely fully aware what suspension of accounts means. Their money mules not so much, as many of them don't even know they are money laundering ("was just helping a friend" etc etc).

Exactly what is achieved by not telling these people that it looks like they are money laundering and asking for an explanation ?

If an account is being used to launder money it won’t be the only one that they operate. Telling them that they are under suspicion of illegal activity would allow them time to empty any other accounts and  potentially destroy evidence. That’s not to say that not telling them would necessarily stop this happening but it would increase the chances.

Banks act under instructions of the authorities in these circumstances and the account may well be allowed to operate normally whilst under investigation so as not to arouse suspicion. 

brianposter

So why not do some investigating before suspending an account - and in many cases the only practical form of investigation is to ask the participants in the transactions.

Shanwick

It sounds like a (Transfer)Wise account might save some pain in future. Direct US ACH into the USD account at (Transfer)Wise by the sender and  then transfer it to a GBP account of your choosing at your convenience.

Ballard

brianposter said:

So why not do some investigating before suspending an account - and in many cases the only practical form of investigation is to ask the participants in the transactions.

You clearly don’t understand that asking a criminal whether they’re doing anything wrong would be somewhat detrimental to any investigation so it’s time for me to leave this discussion. 

brianposter

Ballard said:

brianposter said:

So why not do some investigating before suspending an account - and in many cases the only practical form of investigation is to ask the participants in the transactions.

You clearly don’t understand that asking a criminal whether they’re doing anything wrong would be somewhat detrimental to any investigation so it’s time for me to leave this discussion. 

Strange. When I have seen police investigations that is exactly what they do.

ItsComingRome

brianposter said:

Ballard said:

brianposter said:

So why not do some investigating before suspending an account - and in many cases the only practical form of investigation is to ask the participants in the transactions.

You clearly don’t understand that asking a criminal whether they’re doing anything wrong would be somewhat detrimental to any investigation so it’s time for me to leave this discussion. 

Strange. When I have seen police investigations that is exactly what they do.

Yes, once the allleged perpetrator is in handcuffs at the police station, AFTER the police have gathered the evidence.

Probably worth pointing out that this isn't a police investigation either.

IlPartigiano

ItsComingRome said:

brianposter said:

Ballard said:

brianposter said:

So why not do some investigating before suspending an account - and in many cases the only practical form of investigation is to ask the participants in the transactions.

You clearly don’t understand that asking a criminal whether they’re doing anything wrong would be somewhat detrimental to any investigation so it’s time for me to leave this discussion. 

Strange. When I have seen police investigations that is exactly what they do.

Yes, once the allleged perpetrator is in handcuffs at the police station, AFTER the police have gathered the evidence.

Probably worth pointing out that this isn't a police investigation either.

I wish it was, and I say that as a person with the lowest possible opinion of both banks and the police. I'd probably have my money by now.

IlPartigiano

Update to vent: HSBC insists they returned the money on the 13th, bill.com say they have not received it yet. Sigh.

IlPartigiano

Further update: money still not returned to the sender, the HSBC now claims they have no record of ever having seen the payment. No idea what to do at this point.

Thrugelmir

Depends on where the account is held. US banking is somewhat fragmented compared to the UK. The return of the money could be delayed at every junction.