CIFAS category 6 marker please help!!!

jonesMUFCforever wrote: »

First time poster - welcome to MSE.
I promise to be nice but IMO I doubt whether this is a true story as written.
Prove to us that this is not made up - scan a photo of one of the letters (masking all private information of course).

I don't believe you can have a CIFAS marker before the age of 18.

I believe in exceptional circumstances, the bank might still be able to put the customer on the CIFAS register, as they are in fact legally compelled to do this or they are also breaking the law and allowing money laundering to continue through other banking services, as the customer would be able to open an account elsewhere, which a CIFAS flag will essentially stop.

Unless there is a technicality which strictly prohibits those under the age of 18 from being on the CIFAS register, I believe it may certainly be possible and once they come of age, it should show on their credit file. Not the most pleasant of things to have on your CRA records at 18...

How their bank account could be used for money laundering is beyond me. Unless someone had the PIN to that debit card, they still wouldn't successfully withdraw from a cash machine. The only other alternative is in branch, in which the "person" would need legible ID to prove they are the account holder, the debit card alone wouldn't satisfy security for this very reason.

I am sorry, but if your situation is genuinely real OP, I am afraid you won't have much appealing this at all. The bank has a legal obligation to prevent, detect and report illegitimate use of the network - by not reporting the account as compromised and leaving this activity to continue until caught, you essentially "allowed" it to happen and are therefore the liable party. Most cases are actually passed to the National Crime Agency by the bank, so if someone else did do this without your knowledge, perhaps the police may be interested to find out who it was.

Overall, luckily this has happened at the age of 16, as it will expire by age 22, although nevertheless it isn't a great start to your financial life. Even an 18 year old with a clean history struggles to obtain a decent credit offer, you will find it next to impossible until you are removed from the CIFAS register. You may be able to obtain a basic bank account, offered to those who are not eligible for mainstream, but acceptance is at the sole discretion of the banks.

There is no credit score, that is just a bit of fun offered by the credit reference companies.

Credit history is what you have to maintain by being responsible, not taking out too much credit that you drown in debt, miss payments which causes defaults and starts to limit who will advance you money ie loan/mortgage or credit ie credit card.

You will probably struggle to get insurance at a reasonable price (1) due to your age (2) not being able to take out a credit agreement until 18yrs old (3) due to the marker on your credit history.

It wont stop you getting a provisional or learning to drive or buy a car, unless you need credit (loan) or finance which isnt available to anyone under 18.

Stop thinking about how it will stop you as you cant change anything at the moment. Wait to see what response you get to your request for info THEN come and ask for guidance.

In the interim look over the mortgage and debt free wana be boards to see what you face. Also use the advance search.

Employment wise if you are looking to qualify or work in finance that probably wont happen due to the marker, legal career may be ruled out at this stage too as with finance/legal careers (and others) you have to fill a form out to confirm you are a "fit and proper person" which atm and for 6 years you cant.

Not saying this to freak you out, but to give you the heads up as you havent said what you are going to uni to study.

Main thing is to remember to keep breathing!