Bank Account Frozen Due To Suspicious Activity

P i am wondering if anyone has a sample letter they would be willing to share that could be used when closing an account for suspicious activity.

Bank account frozen due to suspicious activity. If it comes out that there is absolutely no criminal activity and the bank has filed a report due to suspicious activity and frozen the account the new legislation has discharged the banks from any responsibility. First let me explain what the term frozen account mean in the banking system or industry. If your account is frozen or closed for suspicious activity frozen. Last week bbc watchdog reported that some monzo customers had their accounts frozen due to investigations into suspicious account activity.

This freezes the bank account. That is he suspects money laundering. When you hear bank account frozen due to suspicious activity this tells you that your bank account has involved in illegal transaction. If your bank account has been frozen or you have been locked out of your account and on contacting your bank they are refusing to give you any information about why this has happened or when the issue will be resolved it is likely that there is a suspicion of either fraudulent activity or money laundering on the account and a suspicious activity report sar has been made.

Your bank may be able to tell you what specific transactions triggered the freeze and will walk you through what documentation could help unfreeze your account. The bank will be unable to discuss why an account has been frozen with the customer as under section 33 poca it is a criminal offence to tip somebody off about a sar. Dave presses a button on the bank s computer system. This is one of the major reason why bank account get frozen.

My personal and business accounts were witheld from me for two months due to suspicious activity caused by a client who had been the victim of fraud their money had been transfered everywhere and some. It should be noted that this is not unique to monzo as all banks are under legal. We have several accounts that we have been refilling sars on and have decided that the accounts be closed but the only reason on some may be due to continued structured activity in the account. What is frozen account.

Cooperating with them is usually the fastest way to solve the problem. He files an electronic sar with the national crime agency nca and includes a request for consent to proceed with the transaction. How are you addressing this in the letter to close them. Dave looks at the information and has concerns that the activity is suspicious.

This fact means that the bank decides. If the bank discusses the freezing order with the customer this could prejudice any investigations. While most accounts were frozen for a few hours some customers were unable to access their money for a number of days.