Beneficiary of fraudulent funds

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Comments

  • Sorry I meant faster payment.
    The money was from a UK bank account, for which I thought you required 2 factor authentication to set up a new beneficiary. Hence I thought it was safe.
  • fwor
    fwor Posts: 6,806
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    The type of authentication doesn't matter - an accusation of fraud pretty much trumps all else as far as banks are concerned, so they have to suspend the transaction and investigate.

    But that doesn't mean that the money is definitely lost - all you can do is wait and see what the bank's investigation finds. Don't expect the bank to tell you much about what they are doing - typically banks won't reveal much to either party in these circumstances.

    And please don't antagonise the bank by telling them that you were "selling goods". You need their help, and it won't do your case any favours if you insist that Bitcoins are "goods" when the commonly held definition of "goods" is a tangible item - something that you can put in a Jiffy bag and send to someone in the post. A virtual currency does not fit that definition, by any stretch of the imagination.
  • I have been open and honest the whole time but i am being made to feel like i am part of the fraud.
    I am being threatened with account closure and being put on some sort of fraud watch.
    I have been banking with lloyds for 20 years and this is how i get treated over someone putting a few hundred pounds in to my account without my knowledge (of it being fraudulent).
  • Realise that your account activity has given the bank reason to be suspicious and that they are duty bound to act on those suspicions.

    Realise also that insisting on referring to Bitcoins as "goods" is not helping your cause at all.

    I hope it all gets sorted out for you, in the meantime you'll just have to be patient.
  • Bermonia
    Bermonia Posts: 977
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    Given the type of transaction you were involved in they may well have taken a decision that it is not something they want any future part of - ultimately it is a business decision to make and cannot be argued against.

    Hope for the best, but you may want to start reviewing other high street banking options (obviously outside of the Lloyds Banking Group).
  • Yup, they are closing the accounts. I guess these banks really dont like crypto currency.
    I have made a report to the Ombudsman because I still believe they should have taken more care in security and not allowed the transactions to hit my account. The worst part is that the other account was a Lloyds account so Im guessing they are trying to brush it under the carpet.
  • Rainbowgirl84
    Rainbowgirl84 Posts: 1,175
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    moscheeno wrote: »
    Yup, they are closing the accounts. I guess these banks really dont like crypto currency.
    I have made a report to the Ombudsman because I still believe they should have taken more care in security and not allowed the transactions to hit my account. The worst part is that the other account was a Lloyds account so Im guessing they are trying to brush it under the carpet.

    I suggest that the person who should have taken more care is closer to home. Currency dealing is not dealing in goods.
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