NatWest First Party Fraud Restrictions

eskbanker

Bdem96 said:

But the advisor did discuss the problem with me, so is she going to get in some sort of problem because other than her no one spoke to me about anything.

Ultimately (and contrary to popular belief for some!), bank employees are human beings, and may choose to disclose more to customers than they ought to - it doesn't necessarily mean that she'd get into any trouble for going off-script though, but technically institutions aren't meant to disclose anything about such investigations.

Bdem96 said:

Yes but how am I in the wrong?

You're not (and neither are the bank) - you're just a victim of circumstances and the unfortunate way in which remitters of funds can cause problems for the recipients by making fraud accusations via the banks, who are obliged to act on them.

Bdem96

Bdem96 said:

Yes but how am I in the wrong?

You're not (and neither are the bank) - you're just a victim of circumstances and the unfortunate way in which remitters of funds can cause problems for the recipients by making fraud accusations via the banks, who are obliged to act on them.

I don’t understand why they wouldn’t just freeze the amount they were making allegations for and let me use my other funds that’s already in the account? My debit card was made active by some other fraud team but online banking wasn’t re instated.

eskbanker

Bdem96 said:

I don’t understand why they wouldn’t just freeze the amount they were making allegations for and let me use my other funds that’s already in the account?

It's because there's an accusation of fraud, which is more serious than just blocking the transaction value itself and is typically dealt with by suspending the account entirely while the issue is investigated.

Bdem96 said:
My debit card was made active by some other fraud team but online banking wasn’t re instated.

I don't understand this either to be honest....

penners324

I'm very surprised that NatWest gave you that information. That looks like a breach of anti money laundering rules

binao

Bdem96 said:

binao said:

Bdem96 said:

eskbanker said:

Unfortunately there isn't really anything you can do other than to wait for the review to complete, even though you feel that they now have sufficient information to adjudicate in your favour.

For future protection it may be worth having multiple accounts so that you have access to other funds that are ring fenced away from the one used to receive client payments, as the same situation could arise again....

Yeah that’s what I’ll be doing for certain. How long does review’s normally take? They say they have no time frame but I’m pretty sure it can’t take months can it? Like is it not meant to be sorted as soon as? And I’ve put a complaint through waiting for them to call me will it make a difference can they chase it up for me?

Bank fraud has increased by 10x in as many  years and banks are now more liable, which is expensive and reduces profits.

The solution is stricter algorithms or complaint investigation to detect fraud which results in more false positives and customer grief. 

Grief compensation, or GAP, go away payments, are a relatively much lower cost then fraud compensation pay outs..

Also I believe Investigation progress is confidential by regulation.

Compensation can reduce  the frustration and stress.

Yes but how am I in the wrong? the person that made the payment to me made false accusations towards me and even called back their complaints. 

You are not  in the wrong in any way, you're a victim of the systems now in place because of the increased cost to the banks of fraud, as explained in my post.

All it needed was a fraudlent complaint to set the process rolling at full speed.

As others have posted, multiple accounts are essential and also cards etc. 

In 3 months I've gone from 3 to 6 accounts.

Good luck 

Bdem96

penners324 said:

I'm very surprised that NatWest gave you that information. That looks like a breach of anti money laundering rules

What does? that they gave me that information or are they looking into my account for money laundering, thanks

Bdem96

binao said:

Bdem96 said:

binao said:

Bdem96 said:

eskbanker said:

Unfortunately there isn't really anything you can do other than to wait for the review to complete, even though you feel that they now have sufficient information to adjudicate in your favour.

For future protection it may be worth having multiple accounts so that you have access to other funds that are ring fenced away from the one used to receive client payments, as the same situation could arise again....

Yeah that’s what I’ll be doing for certain. How long does review’s normally take? They say they have no time frame but I’m pretty sure it can’t take months can it? Like is it not meant to be sorted as soon as? And I’ve put a complaint through waiting for them to call me will it make a difference can they chase it up for me?

Bank fraud has increased by 10x in as many  years and banks are now more liable, which is expensive and reduces profits.

The solution is stricter algorithms or complaint investigation to detect fraud which results in more false positives and customer grief. 

Grief compensation, or GAP, go away payments, are a relatively much lower cost then fraud compensation pay outs..

Also I believe Investigation progress is confidential by regulation.

Compensation can reduce  the frustration and stress.

Yes but how am I in the wrong? the person that made the payment to me made false accusations towards me and even called back their complaints. 

You are not  in the wrong in any way, you're a victim of the systems now in place because of the increased cost to the banks of fraud, as explained in my post.

All it needed was a fraudlent complaint to set the process rolling at full speed.

As others have posted, multiple accounts are essential and also cards etc. 

In 3 months I've gone from 3 to 6 accounts.

Good luck 

Yeah I get that, but doesn’t seem like full speed if they can’t check it fast enough, do you know they’ll be looking at, like I’ve never had no complaints about fraud on my account before

Bdem96

eskbanker said:

Bdem96 said:

I don’t understand why they wouldn’t just freeze the amount they were making allegations for and let me use my other funds that’s already in the account?

It's because there's an accusation of fraud, which is more serious than just blocking the transaction value itself and is typically dealt with by suspending the account entirely while the issue is investigated.

Bdem96 said:
My debit card was made active by some other fraud team but online banking wasn’t re instated.

I don't understand this either to be honest....

You know what it is, what’s taking them so
long to look at? Like don’t they want us to be customers? I will definitely be moving banks after this, it’s not fair.

eskbanker

Bdem96 said:
I will definitely be moving banks after this, it’s not fair.

Although that's a natural reaction, you'll find that they're all subject to the same laws and regulations, and so will all respond in largely the same way to accusations of fraud, although NatWest's name does seem to crop up fairly often on these threads....

binao

Bdem96 said:

eskbanker said:

Bdem96 said:

I don’t understand why they wouldn’t just freeze the amount they were making allegations for and let me use my other funds that’s already in the account?

It's because there's an accusation of fraud, which is more serious than just blocking the transaction value itself and is typically dealt with by suspending the account entirely while the issue is investigated.

Bdem96 said:
My debit card was made active by some other fraud team but online banking wasn’t re instated.

I don't understand this either to be honest....

You know what it is, what’s taking them so
long to look at? Like don’t they want us to be customers? I will definitely be moving banks after this, it's not fair.

life is not fair.

Stop complaining and start opening standby backup accounts. Wealth goes into an account that is not used for day to day.

Even swiping small amounts more than average times in a day will get a card locked for up to 3 weeks.

Some where I read that, maybe on MSE, a now retired fraud investigator, found his old office for 4 was  now a 50 staff complex.

I'm gone, out to dinner on my recent compo