Potential CIFA marker - gambling

twiggie44

Please please help. 

Yesterday Kroo messaged me on the app to say they were closing my account with immediate effect following review of my account. For the past few months I have been depositing money in and using it on a gambling platform (mystake). I was in a stressful situation, trying to make money (stupid mistake I know). I had absolutely no idea that what I was doing was wrong. The bank have never called to say what’s going on or blocked anything. So I really did not know I was doing wrong. Any winnings I received were being put back into my normal Santander account.  

I have been up most the night worrying that a cifa marker will be added. I had no idea about these until reading something yesterday when I googled about having a bank account closed. I’m beyond stressed. With a mortgage due for renewal end of this year, a family and a small business. 

Is it likely I will get a cifa marker? 

I don’t know what to do. 

As mentioned the bank haven’t phoned or asked me what was happening. Just immediately closed my account. Last night I put a request in to see if I have a cifa which I know may be too soon. 

I can’t think of anything else right now, just absolutely scared and worried about the impact. 

Any help or advice would be appreciated. 

Zinger549

Lots of people gamble with no issues from there bank. Have you deposited a large sum?

twiggie44

I was transferring from my Santander to my kroo. At worst £200 a day. But in £50 transactions. I was then gambling. And any winnings were going back to my Santander (not kroo). 

I’m not in debt with kroo. No negative balances on either of my banks. It has just been a fdifficult few months and I became addicted to gambling. 

I admit stupidity and gambling is not helpful at all. I haven’t gambled for a week now. 

I’m just so scared they are going to place a cifa marker on me now and my other bank account will be closed, I won’t be able to get my mortgage renewal. 

Im so scared. 

Isthisforreal99

It may be a case that Kroo just didn't like the way the account was being operated rather than you doing anything "wrong'. CIFAS is generally used for fraudulent activity - not that I'm saying you definitely won't get one but if you look at the CIFAS categories do you think you could fall under any of them?

twiggie44

Isthisforreal99 said:

It may be a case that Kroo just didn't like the way the account was being operated rather than you doing anything "wrong'. CIFAS is generally used for fraudulent activity - not that I'm saying you definitely won't get one but if you look at the CIFAS categories do you think you could fall under any of them?

They have stated about not providing me with their services. And to look at their t&cs to which I found a comment about excessive gambling . Not sure if this falls within misuse 

jim1999

I've noticed that some of the smaller challengers don't really like gambling transactions.  My guess is that they're nervous about it being used to hide money laundering etc.  As per the above though, that doesn't mean you've done anything wrong or that you'll get a CIFAS marker - they're probably just being cautious and avoiding the risk of a problem in the future.

Revolut actually contacted me at one point, because gambling transactions were the majority of my activity (I had intended to silo all of my betting transactions away from my main bank), and said that unless I could bring those down so they were only a small proportion of my overall usage they'd have to close the account.

As you've mentioned, if you're not already profiting from it you won't suddenly start making a profit so probably good that you've stopped gambling!  And don't worry too much about Kroo.

vacheron

Providing we are getting the whole story, you haven't done anything "wrong" and you haven't committed any kind of fraudulent activity which would result in a CIFAS marker.

Kroo may simply associate gambling transactions with a level of risk they are not comfortable with. It may also be something completely different that has triggered their decision.... or the gambling transactions taken in conjunction with some other activity.

twiggie44

vacheron said:

Providing we are getting the whole story, you haven't done anything "wrong" and you haven't committed any kind of fraudulent activity which would result in a CIFAS marker.

Kroo may simply associate gambling transactions with a level of risk they are not comfortable with. It may also be something completely different that has triggered their decision.... or the gambling transactions taken in conjunction with some other activity.

Full story as above. Absolutely no other activity on my account. 

mjm3346

Money from Kroo being paid to a gambling site, any "winnings" paid out to a different bank - so as far as Kroo goes it looks like you are a very poor gambler and the closure could be for your own protection.

etienneg

twiggie44 said:

vacheron said:

Providing we are getting the whole story, you haven't done anything "wrong" and you haven't committed any kind of fraudulent activity which would result in a CIFAS marker.

Kroo may simply associate gambling transactions with a level of risk they are not comfortable with. It may also be something completely different that has triggered their decision.... or the gambling transactions taken in conjunction with some other activity.

Full story as above. Absolutely no other activity on my account. 

twiggie44 said:

... For the past few months I have been depositing money in and using it on a gambling platform (mystake)... Any winnings I received were being put back into my normal Santander account.  

Perhaps the OP could explain why they chose to move money from Santander to Kroo to use for gambling, rather than using Santander direct?

Or, when you say "depositing money", do you mean cash? If it's the latter, cash coming in, going out on gambling and no gambling returns will ring alarm bells with Kroo. It looks like classic money laundering, even if that's not actually the case here.

Often, people think they've told the "full story", but have missed out important things that are relevant.

twiggie44

etienneg said:

twiggie44 said:

vacheron said:

Providing we are getting the whole story, you haven't done anything "wrong" and you haven't committed any kind of fraudulent activity which would result in a CIFAS marker.

Kroo may simply associate gambling transactions with a level of risk they are not comfortable with. It may also be something completely different that has triggered their decision.... or the gambling transactions taken in conjunction with some other activity.

Full story as above. Absolutely no other activity on my account. 

twiggie44 said:

... For the past few months I have been depositing money in and using it on a gambling platform (mystake)... Any winnings I received were being put back into my normal Santander account.  

Perhaps the OP could explain why they chose to move money from Santander to Kroo to use for gambling, rather than using Santander direct?

Or, when you say "depositing money", do you mean cash? If it's the latter, cash coming in, going out on gambling and no gambling returns will ring alarm bells with Kroo. It looks like classic money laundering, even if that's not actually the case here.

Often, people think they've told the "full story", but have missed out important things that are relevant.

I just didn’t want it on my current account. It was a transfer from my Santander to my kroo. Not cash.