Verified iIdentity proof?

[marleymouse]

Can anyone confirm what constitutes verified identity proof for bank transactions?

A family member has fraudulently closed two of my very elderly fathers accounts (a share account and an ISA account valued at £10,000 each) using his identity and immediately transfered the total of £20,000 from my fathers current account into his own account. We have gathered lots of information and evidence including very conclusive tape recordings, bank letters and statements and the police and soc services are able to make a case if my father decides to press charges but he is still in distressed and in shock at the moment.

In addition to all the evidence we have concerns that the bank (who are part of the shareholders group) may not have taken adequate safety precautions when closing these accounts. We understand the bank would have had to confirm or provide verified identity proof to the share holders in order for these accounts to be closed. What is verfified identity proof?

Please can anyone confirm what the bank departments would each have required to see or do in order to do this for these sums?

Also as these large sums of money were transferred online immediately out of my fathers current account into another individuals account (at the same bank) would/should the bank have questioned this?

[Bigboots]

Re: Verified iIdentity proof?

I'm assuming that fraud by a family member one take one of three forms:
False representation of identity: As they said they'd need to 'see' verified identity proof, then this would likely involve sending a copy of an identity document and a fake signature.
The bank may be wrong though, and they may have transferred money and closed the account on the basis of internet or phone banking login details. However, most accounts which are not current accounts would have extra hurdles when transferring out to an account not in the holder's name.
False representation of circumstance: Such as persuading the bank he had died, or that he lacked mental capacity. In either of these cases, they should require documentary evidence (eg, probate, Power of Attorney), though if the bank staff were not aware a large amount was at stake, they may have overlooked this requirement for something more trivial.
A fake document, or genuine one you didn't know about: such as if your father was persuaded to sign a Power of Attorney deed.

I think you need to get POA yourself from your father to discuss this with the bank (or get him to), in order to find out exactly what they did accept as identity.
You should also notify them the transactions were fraudulent in case there is any possibility for recall.

[enquirer]

Re: Verified iIdentity proof?

Please can anyone confirm what the bank departments would each have required to see or do in order to do this for these sums?

Also as these large sums of money were transferred online immediately out of my fathers current account into another individuals account (at the same bank) would/should the bank have questioned this?

This will vary from bank to bank. Strictly speaking, it will only be of use to you if you decide to pursue a civil claim against the bank, otherwise it is for the police to sort it out.

Unfortunately, it is often the case that the elderly become confused and frightened by this sort of experience. They may not have the stamina to see it through, and may also have a misguided sense of loyalty to 'family'.

As it's theft, it's clearly a matter for the police.

There is a chance that the police will try and get out of pursuing the matter. They may say that they won't be able to do anything should your father not want to 'press charges'. This will be a lie. Make it clear that you expect action, and that should they start making excuses, you will cause trouble.

As Bigboots suggests, consider a POA at once.

[MissFM]

Re: Verified iIdentity proof?

The trouble is, that if it is all done online (and your father trusted him) all the bank will ask for is a password and if you click the "I've forgotten my password" tab, they will then email a new one on provision of answers to a verifying question - answers that a trusted family member is likely to know.

It stinks.

IMVHO the responsiblity (and the fault) lies with the bank.

[marleymouse]

Re: Verified iIdentity proof?

Although the person on the voice recording is professing to be my dad it is very clearly not my father & online transactions clearly show all the money was immediately transferred on to 'the voice' as soon as it went into dads current account. Firstly I cannot understand how anyone could have believed the voice was that of an 84 year old man but even so...as we understand it...dads bank had to fax through verified documents to the shareholders before they could close the shares and ISA and pay it into dads current account, so how did they do this? Would anyone just taking the relevent original documents into the bank have been enough for them to copy and fax through or should dad have had to present the documents in person?

I cannot see how the culprit could have passed himself off as an 84yr old man in person and he definately had no POA!? This is why I would like to know what the minimum safety procedure/duty of the bank would have been. Dont get me wrong as the person who comimitted this fraud is definately the one to be held responsible but it concerns me what levels he would have had to have stooped to.