Barclays account blocked under review 7 days

[Helpme23p]

Hi, from the uk, i have been trading on the fx market on the side.

 

met a guy online been talking for a while id say we were friends. He was interested in investing with me so sent me money via bank transfer also from the uk, which i traded on the fx ended up not going so well losing it.

 

£700 he got angry about it and not 100% sure but think he reported it to his bank as my account is now blocked and under review.

 

As soon as i said have u contacted your bank he blocked me.  im guessing he has. Banks havent said anything just that will need to wait 7 days as account is under review. 
 

I already have another bank account, but bit worried as i wasnt scamming anyone if anything was trying to help but ended badly. 
 

what is the implications i could possibly face now?

[BazzaS]

3 potential issues:

1) He might have a civil claim against you, but this shouldn't lead to your account being frozen,

2) He might have accused you of fraud / asked for the money transferred to be returned on the basis of your actions being fraudulent,

3) The transfers (and / or any complaint) may have triggered a bank investigation into money laundering, in which case they won't be able to discuss it with you, and you'll just have to allow the process to play out. With the "wait 7 days" this is the most likely explanation.

[honeybee13]

Thread moved to the General Legal forum.

 

There are plenty of threads to read in our Barclays forum where people have had to sit it out for 7 days or so and then had the account reopened.

 

HB

[Helpme23p]

But if he sent it off his own will, have i done anything wrong? 
 

surely he’d of had to go through his own security process to be able to send it and they’d be able to see that so could i get done?

[honeybee13]

You may never know, from what we've seen here. If moneylaundering is suspected, the banks tell you virtually nothing.

 

Often it seems to be set off by transactions that set off alarm bells created by the bank. As I said, if you take some time to read other threads in our Barclays forum, you'll see how this normally goes.

 

HB

[Helpme23p]

Hi,

got contacted by my bank and it was that transfer it was of £700.

 

They just asked me do you remember it, it was back in april.

 

I said yeah it was from an ex friend. He sent it to me as i was in financial difficulty and he gave it to me as a gift and said i dont have to give it back and i can do what i want with it.

 

He put the reference on the bank transfer as “gift”. I said i did say to him if i manage to make more money from it i will be able to sort him out.

 

Any texts related to the conversation sent was via a pay as you go sim, so not registered in any name. I also said we had a falling out and are no longer speaking

 

they asked how long did you know him for i said we been speaking online for 5 months playing online games together etc

[honeybee13]

So did they indicate what might happen next?

 

HB

[Helpme23p]

They just said i will hear something back end of the week which will be 7 days. They said they will communicate the info i gave to his bank

[Helpme23p]

Just received this text from barclays

 

We've completed our review of your account and we need to let you know your accounts and products have been closed. We'll send you more information in the post in 3-5 days. Your Barclays team

 

 

i dont get why!!!

[honeybee13]

As I said before, sadly you may never know what sparked this off. If money laundering is suspected I think there are limits on what Barclays can tell you. I imagine they will return your money.

 

Do you have another account you can use while you're waiting?

 

HB

[Helpme23p]

They told me it was due to that transaction, the guy must of said i defrauded him.

 

We was friends, he gave it to me and said don't have to give it back,  i said ill try and invest it and make more. We fell out, now he probably has reported it as he sent it as an investment but got nothing back. He referenced it as gift.

 

i have another account.

 

but this will give me a cifa marker right?

What's the best next step now?

 

do i complain to why my account is being closed?

[honeybee13]

Have a read of this thread, it might give you some pointers. There's a very good explanation of accounts being frozen by comebackjummy.

 

 

 

HB

[slick132]

Hi Help,

 

You need to keep track of your Credit File to see if a CIFAS marker appears. If it does, you have the right to complain to the bank about the marker but I suspect you'll be unsuccessful in having it removed.

 

What you did was foolish. It's one thing for YOU to dabble with FX but taking someone else's money hoping to make money for them is entirely different.

 

Your explanation to the bank is different to what you've told us and you should learn from this episode - like not to risk a friendship by borrowing/lending money and not to involve others in speculative investing.

[Helpme23p]

Yeah lesson learnt, but he sent it on his own will.. and as a gift. But im more worried about getting a cifa marker than it being closed down. 

 

This is wrong’! Transaction was back in april! Only because of a falling out. He sent it at the time at his own will. Bank shouldnt be able to close an account just like that

[slick132]

As said above, you have the right to challenge the closure, as well as any CIFAS marker that affects you. You have the right to put fwd your side of the story.

 

As said before, given the circumstances, I doubt you'll be able to influence the bank's decision to close. If a CIFAS marker appears, you can deal with that as you see fit in due course.

[Helpme23p]

So they said they will send me more info in the post havent received it yet. But today by account got removed from apple pay on my phone so guessing it is fully closed now.also it says my money has been withdrawn got a notifcation on my phone. Not sure where to. Do i need to write anything to then to challenge it or do i wait for the letter in the post

[slick132]

They said 3 to 5 days so maybe wait until after the weekend to see if they've sent you more info about the closure and how to get your money back.

[dx100uk]

did this get resolved please?