Need help - Denied access to bank account

Justin_Sane · 20 June 2019 at 6:50PM

I am invested in a certain cryptocurrency. This company looked legit at first, but changed in a shady company right after ( just my opinion). As this company was pretty vague about some topics, i've decided to do some research and decided to share this information ( after a lawyer told me i was allowed to do so as long i was sharing facts). I've shared this information on a newly made e-mail adress as i attach great importance to my privacy. For some reason they've found out my real name and threatened me with a lawsuit.

In less or about an hour later, i got another mail saying my account got limited due to "AML Concerns". This concern is pretty questionable knowing the timeframe this all happened (Threat & AML Concerns). They've asked me to send them some information like my ID / Proof of adress,...

So what does this mean? My account is locked since it was "limited". I have zero access to my funds OR ACCOUNT, i can't login to my account anymore --> My account is being taken hostage. 2 weeks ago, i did provide them with the documents asked to proof my innocence, but my account remains locked.

Questions
Can a company take hostage my account? ( Can they deny access to my account?) i was told that i should have access to my account at any time.

[Deleted User] · 20 June 2019 at 6:55PM

Here we go again....

A company hasn’t taken hostage of your account.

The bank has suspended your account due to suspicious activities that you were fully aware of partaking in.

It is likely you have a CIFAS marker against you as well which will inevitably hinder you chances of obtaining credit in the future.

Justin_Sane · 20 June 2019 at 6:57PM

I haven't done anything to my account besides adding to my position. I've never withrawn anything AND i've proven my innocence.

They did get my proof showing i'm innocent and yet they refuse the give back my access. That doesn't sound right, does it?

Also, i wouldn't call sharing my own research (Which is publicaly available) with others 'suspicious activities'. These AML are unfounded which i've proven by sending them the documents.

Also, i wouldn't call sharing my own research (Which is publicaly available) with others 'suspicious activities'. These AML are unfounded which i've proven by sending them the documents.

[Deleted User] · 20 June 2019 at 7:01PM

Re-read your first paragraph.

You’ve done everything to your account and took part in some dodgy currency investing.

That’s not proving your innocence

Justin_Sane · 20 June 2019 at 7:04PM

Me investing in a cryptocurrency company has nothing to do with these unfounded AML concerns.

My question was whether a company, any company, can fully deny access to my account when they have 'AML Concerns'.

I did provide them the needed documents to proof my innocence - Pay slip - ID - Bank transfers -..

Willing2Learn · 20 June 2019 at 7:08PM

Is this with a bank in Holland? You should really be asking your question on a forum based in the Netherlands...

Justin_Sane · 20 June 2019 at 7:09PM

Not a Holland based company.

eskbanker · 20 June 2019 at 7:13PM

Justin_Sane wrote: »

Me investing in a cryptocurrency company has nothing to do with these unfounded AML concerns.

My question was whether a company, any company, can fully deny access to my account when they have 'AML Concerns'.

I did provide them the needed documents to proof my innocence - Pay slip - ID - Bank transfers -..

Banks are obliged to deny access to your account if they have AML concerns, and I'd have thought that it was highly likely that it relates to your investing in crypto. You may believe you've 'proved your innocence' but all you've done is to produce supporting ID and perhaps some explanations.

They're Justin Vestigating because it's Justin Criminating enough for them to have to do something - they aren't holding your money hostage but it's Justin Accessible for now and if you haven't breached any Ts & Cs or laws/regulations then it should all be returned to you eventually, Justin Time for you to move it to another bank (if you don't have a CIFAS marker....)

[Deleted User] · 20 June 2019 at 7:50PM

Cryptocurrency investing etc. has every right to be invested for AML.

18cc · 20 June 2019 at 8:04PM

I will try and answer your specific question

yes banks are allowed to suspend any account that they suspect. it doesn't matter if you are guilty or innocent - if the bank Suspects anything dodgy they will and must suspend access to your account

they are not allowed to tell you why

many people think that this is a bit too weighted towards the bank but that is the way it is and that is the law if you want it changed I suggest you contact your MP

what will happen is that the bank will investigate - this normally takes several weeks but can be longer.

once they reach a decision they will notify you and they will either unlock your account or completely deny access to your funds permanently. As mentioned above they may also put a marker against you which means that you will not be able to open any other bank account for 6 years

as I said before this is not only completely legal but they are obliged (under the threat of severe penalties) to do this under the law.

colsten · 20 June 2019 at 9:40PM

I have a feeling we're not talking about a real bank here, but a crypto firm.

Perhaps the OP could clarify what sort of 'bank' it is, where they are registered, whether they have FCA authorisation, and what sort of account has been blocked.

Need help - Denied access to bank account

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