Cifas marker

Shamzy06

Hey Guys, Hope you're all having a lovely day. I'm writing to get your views on a matter that I'm currently dealing with. Basically, I got a cifas marker on my account purely because of miscommunication that led to confusion which made my friend that sent money into my account file a complaint to their bank for a fund recall. This was 2 weeks after I had received the funds into my account and now I had already transferred the funds to where they needed to go and had nothing in my account apart from my own money. My Account got restricted, the money that I had in my account was sent to some account that was related to fraud and upon inspection my bank told me that the funds were recalled by the sender. I didn't really bother before as it was only a small amount and the account that got closed wasn't really my main account. When I found out I had cifas marker for misuse of facilitiy because the situation, I had to contact the my friend immediately and ask them him about it and he told me that he withdrew the complaint from his bank and the bank told him that the case has been closed now. They didn't provide any proof or document for me to use as proof that the case has been closed and the complaint was withdrawn and told my friend that I need to contact my bank and explain to them the situation and my bank can then contact his bank internally and it will be notified that the case been closed and the complaint has been withdrawn. I've already filed the official complaint with my bank now, just waiting for their reply. Hopefully it will be positive. What wanted to know was, is this actually these banks were in a situation like this? Because I thought my friend's bank could provide me with some sort of proof so that I can use it explain it to my bank but they didn't and instead directed me to contact my bank so they can contact them internally.

My bad for this long !!!!!! post. Please share your thoughts on this. Thanks

MorningcoffeeIV

Shamzy06 said:

What wanted to know was, is this actually these banks were in a situation like this? 

Could you clarify the question?

Ayr_Rage

Not very clear, but I read it as your friend sent you money which you then sent on to an account that was linked with some kind of fraud.

Your friend then tried to recall the money they had sent you.

Why did you send this money on ?

Did your friend persuade you to do this ?

Sounds like the bank has quite correctly suspended/closed the account due to suspected money laundering or fraud.

Personally I think it is highly unlikely they will either reinstate your account or remove the CIFAS marker.

sourcrates

Shamzy06 said:

 What wanted to know was, is this actually these banks were in a situation like this? Because I thought my friend's bank could provide me with some sort of proof so that I can use it explain it to my bank but they didn't and instead directed me to contact my bank so they can contact them internally.

My bad for this long !!!!!! post. Please share your thoughts on this. Thanks

I apologise, your question makes no sense to me.

Please clarify what you want to ask again.

Shamzy06

The question is simple. The complaint because of which the cifas marker has been placed was withdrawn as it was due to some miscommunication. Will my bank be able confirm this by contacting the other bank or is it on me to get them proof that the complaint has been withdrawn.

Ayr_Rage

Is the cifas marker because of you friend's complaint or the fact that money moved through your account and was flagged as a fraudulent transaction ?

The second scenario seems more likely to attract a cifas marker.

You seem to have accepted that reason for the account being closed so I think you may still be in trouble.

Shamzy06

No the cifas marker was placed when my friend had recalled the payment from my account not because I sent to to the other account.

Shamzy06

Because they never asked me anything about the payment I made. That was all fine

[Deleted User]

Managing your financial affairs like this - money bouncing in and out of different people's accounts -  is screaming for Cifas markers.
Your friend recalling their payment just finalised it !

Argyl53

[Deleted User] said:

Managing your financial affairs like this - money bouncing in and out of different people's accounts -  is screaming for Cifas markers.
Your friend recalling their payment just finalised it !

Do people need to be quite so heartless about these questions? Transferring money between friends and family, or your own accounts in different banks, is something millions of people do every day as part of their normal banking and it's really not surprising that most people are completely unaware something as simple as someone you know merely depositing money in to your account can lead to you being shut out from the entire UK banking system for six years.

OP - make a formal complaint with your bank (or former bank, if they've now shut your account) explaining your situation and asking for the CIFAS marker to be removed and any funds returned to you within 30 days. Maybe a GDPR subject access request too. If (and they probably will) close your complaint without doing anything, escalate to the Financial Ombudsman. This is the most you can do at this stage, and you need to wait for your complaint to be rejected before the Ombudsman can take up your case.

[Deleted User]

There's nothing heartless about it.

The bigger picture tells us that we are small cogs in the financial world - we don't have the right to take things personally.

Due diligence is key to every single financial transaction we do and learning the hard way is what all experience.

A financial public forum provides so much information and is a great resource, the original poster of this thread is learning a valuable lesson and with others here to guide them through it there's nothing negative going on.

Whatsmore, other readers of the thread can learn this lesson now so, again, a valuable resource.