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lottery scam

lottery scam

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so the elderly gentleman has been spending hundred of pounds per week on a lottery scam across many foreign transactions - do the banks have any duty of care or other duty to act on what i would have thought was suspicious activity viz enabling criminals to take his money - the police have confirmed to him it is a scam but he won't accept that

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By JCresswellTax
20th Apr 2016 21:44

What?
Who are you talking about?

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By nick farrow
20th Apr 2016 22:11

AML procedure

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By JCresswellTax
20th Apr 2016 22:15

Thats not a who!
Still confused!

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By nick farrow
20th Apr 2016 22:18

Closer relative
Close relative

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By CaptainNick
21st Apr 2016 00:15

Grammar and punctuation...

They are useful things. If you want an answer to a query, provide some context and background information then pose a question! I assume it is a query and not the ramblings of a Web bot?

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By JessicaRain
21st Apr 2016 02:28

Something missing
I'm assuming a string of words before the 'so' has been swallowed by something. To answer the question posed, the answer is no, the bank has no business interfering in what an account holder spends his/her money on if he's not committing any crime. These scam merchants are infuriating, and whilst it is upsetting to witness an elderly relative In the clutches of these rodents, there isn't much you can do to make the plague go away. Obviously, if you feel his faculties are failing, you can explore the POA or Enduring POA options. All the best.

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By nick farrow
21st Apr 2016 09:48

update

thanks all - the one thing that has changed since my earlier post is that the police have confirmed it is a scam. I assume scamming is a criminal activity -t herefore do the banks not have any duty to stop the transfer of funds to criminals - I thought this was one of the purposes of the AML legislation across the world - hence the billion dollar fines imposed on various global banks

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David Winch
By David Winch
21st Apr 2016 10:38

Banks' duties

Under UK law it is an offence to, for example, transfer 'criminal property' (s327 PoCA 2002).

The term 'criminal property' is defined in s340.

But in these cases there is no transfer of 'criminal property' because the 'property' (which basically means an asset of any description) being transferred is the legitimate savings etc of the victim - which is not 'criminal property' (it only becomes 'criminal property' when the scammers have received it).

The banks also have a responsibility under s330 to report suspicions of 'money laundering' (this is the same duty that applies to accountants etc).

So if a bank sees a lot of money arriving in a customer's account (which appears suspicious) it may then freeze the account and submit a Suspicious Activity Report to the NCA.

David

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By Chubby Bundle of Puppy Fat
21st Apr 2016 10:41

Words. I'm loss for at.

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By JimLittle
21st Apr 2016 10:42

so many scams

There are so so many scams happening nowadays,  I hear about them every day and they target the vulnerable and elderly who obviously are quite gullible and trusting.   

Banks are powerless and cannot control everything.  They will not know if it scam or not. Police do not have the resources to go after these criminals who are often located overseas,  Just sad.

 

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By nick farrow
21st Apr 2016 10:46

many thanks David - this was the information I was after albeit very depressing - I have heard of a retired high court judge being scammed like this

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By Ruddles
21st Apr 2016 11:12

I'l bet that the bank wished ...

... that they'd put a stop on the cheque that I used to pay the getaway driver that helped rob them the next day.

On a serious  note, my bank has asked me to go through certain hoops when trying to make a large personal payment by bank transfer. But they can't be expected to monitor each and every small payment that leaves one's account.

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By Woodipar
22nd Apr 2016 14:57

Scam

While I appreciate that banks have rules to abide by, they only do this when it suits them.  We purchased a property abroad, sending money from our bank account to a currency exchange company in order to get a better rate of exchange to do the deal.

The bank reacted by freezing our account without notice for a couple of weeks, before unfreezing it and sending us a letter terminating our banking relationship, giving simply 60 days to move.  Even after trying through our MP, we could get no official reason for their action. At the time of the termination, we had over £60k in accounts with the bank.

To paraphrase the letter back from out MP:- we are a big bank, we can therefore do what we like and you can do nothing about it !!

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