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Bank account frozen

Bank account frozen - non client - wants to come in and talk through as sure done nothing wrong

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We have a client and one of their customers have had their bank account frozen for the last few weeks. It is apparantly because of a lot of high value transactions have been going through the account. Extra information has been provided showing the source of the funds and the invoices they relate to and more queries have been returned.

Our client has suggested that they come in and talk to us to see if there is anything they have missed and are doing wrong. I presume that as long as we get the relevant AML and an engagement letter there is no problem with us having this meeting? Or are there other procedures that need to be taken?

Thanks

 

 

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17th Jun 2019 13:26

In addition to what you say you should also as a matter of courtesy let the existing accountant know you are having the meeting.

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17th Jun 2019 17:43

You might want to check exactly when the account was first frozen and get them to confirm that they have not received any court documents (such as a restraint order or notice of a court hearing).
Ordinarily once the bank has filed a Suspicious Activity Report with the NCA (but you won't know exactly when that happened), the account should not be frozen for longer than a further 7 WORKING days plus 30 calendar days.
David

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18th Jun 2019 07:41

I've had clients with accounts closed with no notice. We think it was down to the company details for the director not matching his personal account with the same bank. He'd moved and forgotten to change details on his personal account. Might not be anything dodgy at all

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