Natwest and fraud

[1066gull]

The past fortnight, I have pumped the equivalent of £3500 in to my account from paddy power.

Now you gamblers out there will already know banks treat gambling withdrawals as a 'refund' because they are tax free. But the past two days my account has been frozen, my card is blocked and I cannot log in. I've rang up and thought I sorted the problem but it has arisen once more.

I have a horrible feeling they are freezing my assets for suspicion of money laundering, which I have not. I dind this extremely perculiur as when I pumped money out my account in the past they did nothing to stop me drawing my money. The minute I win I get problems.

Anyone else had similar problems? This country does not like gamblers.....

 

[martyn20]

Putting the bank thing aside for a moment can I have details of your system, that's a lot of money!

 

[toostonedtocare]

I am a banker. Let me know your account details (PM only please to stop identity fraud) and I will resolve your problems.

 

[Rugrat]

I'm with RBS so ostensibly same bank, I have loads of transactions in and out, sometimes daily, never had a problem at all. It won't be money laundering fears I doubt, the onus is on Paddy Power to establish you identity and they have a responsibility too. Just ring and ask them straight out, tell them why there are PP transactions and tell them there'll be more

 

[Westdene Seagull]

I'm with RBS so ostensibly same bank, I have loads of transactions in and out, sometimes daily, never had a problem at all. It won't be money laundering fears I doubt, the onus is on Paddy Power to establish you identity and they have a responsibility too. Just ring and ask them straight out, tell them why there are PP transactions and tell them there'll be more

If he's lucky !

 

[Deleted User X18H]

How can this be Money Laundering? You have had the money (supposedly) returned to your account from the same merchant you made a payment to.

The bank will be aware of who the refund is from.

Placement? You have entered a contract (a bet) with Paddy Power and paid them.

Layering ? No layering appears to have taken place it's all fairly transparent.

Intergration? (Allegedly) Paddy Power have put three and a half g's back into your account as refunds due to successful bets. There is no peculiar trail.

Likely outcome. It's all just in your head.

 

[Vegas Seagull]

How can this be Money Laundering? You have had the money (supposedly) returned to your account from the same merchant you made a payment to.

The bank will be aware of who the refund is from.

Placement? You have entered a contract (a bet) with Paddy Power and paid them.

Layering ? No layering appears to have taken place it's all fairly transparent.

Intergration? (Allegedly) Paddy Power have put three and a half g's back into your account as refunds due to successful bets. There is no peculiar trail.

Likely outcome. It's all just in your head.

Ignore this confused, unhelpful response

There has been a huge amount of stolen card fraud with money pumped into betting accounts and withdrawn via different accounts for the fraudsters benefit. Your transactions have exceeded a threshold level that requires you to simply 'prove' the transactions are legitimate (if they weren't you'd be glad they were in place) Pop a statement into your local branch & they will be able to update their fraud screening parameters for yourself so transactions via this group of merchants are not flagged during anti fraud screening runs
Well done & take it as a compliment

 

[Stat Brother]

Putting the bank thing aside for a moment can I have details of your system, that's a lot of money!

He's omitted to mention the 5k he's taken out.




Btw well done 1066

 

[Tricky Dicky]

I know the banks are obliged to look into laundering but I thought the threshold was 10k

 

[Wardy]

I know the banks are obliged to look into laundering but I thought the threshold was 10k

I think it depends from bank to bank. Also if he as not withdrawn anything before to have the first withdraw this high might have just set off a trigger.

 

[Brighton1]

The past fortnight, I have pumped the equivalent of £3500 in to my account from paddy power.

Now you gamblers out there will already know banks treat gambling withdrawals as a 'refund' because they are tax free. But the past two days my account has been frozen, my card is blocked and I cannot log in. I've rang up and thought I sorted the problem but it has arisen once more.

I have a horrible feeling they are freezing my assets for suspicion of money laundering, which I have not. I dind this extremely perculiur as when I pumped money out my account in the past they did nothing to stop me drawing my money. The minute I win I get problems.

Anyone else had similar problems? This country does not like gamblers.....

Everytime I make a withdrawal I get a letter from Barclays fraud department asking if this transaction is real and mineFFS! It's going into my account NOT out? Why are gambling accounts treated like this? PS> what you winning on horses?

 

[Tom Hark Preston Park]

The past fortnight, I have pumped the equivalent of £3500 in to my account from paddy power.

Now you gamblers out there will already know banks treat gambling withdrawals as a 'refund' because they are tax free. But the past two days my account has been frozen, my card is blocked and I cannot log in. I've rang up and thought I sorted the problem but it has arisen once more.

I have a horrible feeling they are freezing my assets for suspicion of money laundering, which I have not. I dind this extremely perculiur as when I pumped money out my account in the past they did nothing to stop me drawing my money. The minute I win I get problems.

Anyone else had similar problems? This country does not like gamblers.....

Might be related to unusual activity in your account. Last year somebody managed to get hold of the PIN number on my NatWest card. They then went on a spending spree around Brighton. The NatWest software must be pretty powerful because it automatically locked my card after about half a dozen such transactions in the same day. I called up the bank and they passed me through to their fraud office. Have to say they were good as gold, reimbursed me for the dodgy transactions straight away and issued me with a new card. As I say, unusual activity in your account cold have led to your card being blocked. Bank will be able to sort you out.

 

[Rugrat]

Last year somebody managed to get hold of the PIN number on my NatWest card. They then went on a spending spree around Brighton.

I hope you have stopped writing the PIN on the back of your card with indelible marker

 

[GreersElbow]

How can this be Money Laundering? You have had the money (supposedly) returned to your account from the same merchant you made a payment to.

The bank will be aware of who the refund is from.

Placement? You have entered a contract (a bet) with Paddy Power and paid them.

Layering ? No layering appears to have taken place it's all fairly transparent.

Intergration? (Allegedly) Paddy Power have put three and a half g's back into your account as refunds due to successful bets. There is no peculiar trail.

Likely outcome. It's all just in your head.

Money laundering isn't just creating fake money, there's plenty of other schemes to make money illegally. I'm sure it's being looked at by their MLRO.

 

[spig100963]

Everytime I make a withdrawal I get a letter from Barclays fraud department asking if this transaction is real and mineFFS! It's going into my account NOT out? Why are gambling accounts treated like this? PS> what you winning on horses?

Some people use betting accounts to clean up money they would otherwise have to pay tax on. By placing about £2000 to £3000 into the crack machine, playing £20 or £30 off, then asking for remainder to be placed into their betting account. From there it can be place back into their bank accounts.

Maybe they think you are in this bracket.

 

[nail-Z]

It's a sign. You need to give up gambling. Again.

 

[1066gull]

It's mostly horses I've won on but I did spunk a grand on Andy murray last night. Christ that second set killed me. And yes I have been told a system and it pretty much only works on Paddy or Betfair as it involves place betting

 

[Tom Hark Preston Park]

And yes I have been told a system and it pretty much only works on Paddy or Betfair as it involves place betting

 

[StonehamPark]

It's mostly horses I've won on but I did spunk a grand on Andy murray last night. Christ that second set killed me. And yes I have been told a system and it pretty much only works on Paddy or Betfair as it involves place betting

Feel free to fill me in and I'll pass on 10% profits to you each month

 

[Super Steve Earle]

I know the banks are obliged to look into laundering but I thought the threshold was 10k

Be a bit counter productive if the general public knew any money laundering thresholds wouldn't it?