Beware Chase bank-they have just frozen my account and cant tell me why!!!

phillw

musicman100 said:

Surely by blocking the account they are giving you a heads up!!!! That argument does not make sense if i was doing anything illegal I would know they were looking into it because the account would be blocked!!

Plausible deniability. It might be blocked due to an error. They might not know what you're up to.

General_Grant

Futuristic said:

General_Grant said:

I wonder if there are any statistics available for each bank listing how many accounts they have locked because of AML concerns and how many of those were released with no further action as decision was ML was not taking place.

Sounds like data that would only be useful to scammers/fraudsters  

Publishing statistics of the proportion of accounts subject to AML action which proved not to be delinquent could give reassurance to innocent holders of blocked accounts that they are not alone.  It might also make the banks think more about what they are doing to account holders who are acting legitimately.

born_again

General_Grant said:

I wonder if there are any statistics available for each bank listing how many accounts they have locked because of AML concerns and how many of those were released with no further action as decision was ML was not taking place.

I would guess that this data will have to be fed to FCA. Who of course will never release to the general public, as it is not data that is of any use.
Just the same as all complaint data is fed.