Can I challenge a CIFA register marker?

[Vexer007]

Hello,

Thank you for reading my post and any help would be greatly appreciated as there are no clear information out there and don't even know what direction to take next.


So, I had two bank accounts with Metro Bank (Current and Business account). I am self employed small contractor doing a variety of videos for customers. In the last 12 months all of a sudden, my business account started refusing payments sent to it and bounces back to the customer. No haven recently just had a baby and 'life just happening' one thing or the other, I didnt really have the time to follow up as to why payments are being returned by the bank. I simply just asked customers to make payment into my current account instead, didnt think it was a big issue.

About 2 months ago, Metro bank decided to close my CURRENT account without any explanation. I called, went to branch, no info. Eventually to cut long story short, I was given a letter by the bank saying they are closing my account and I should withdraw all monies within a set time, I did.

Still wasnt aware they had gone ahead and placed a marker on my name with CIFA. I went to try and open other accounts, once its opened, few days later, I would get a notice that the account will be closed.

So as it stands, I can't open any account. It was the last account that I tried opening that informed me that my name is in the CIFA database entered by Metro Bank. I requested this info from CIFA, which they provided to me.


Now my question is, where do I go from here? I need a bank account to function. Secondly, Can a lawyer help me to sort this? Is it possible? Is there ANY other input that anyone kindly has to give me to help my situation please? How long will this marker last for before I can open an account? What hope is there for me please?


I will really appreciate all comments and suggestions. Many thanks.

[warwick65]

Re: Can I challenge a CIFA register marker?

Did the CIFAS marker say what you were accused of?

Assuming it is a mistake can you launch an appeal with them and metro

In this day and age, banks have huge departments looking at all aspects of fraud and money laundering and are put under huge pressure by a certain state with a mad leader ( not Russia or the UK or even North Korea) although it wasn't any better under the previous administration

[Amethyst]

Re: Can I challenge a CIFA register marker?

Were payments from your clients quite large ( kind of £10k odd ?) and irregular ? Had the way payments were being made in changed shortly before they closed the account off?

What level/category is the marker ? ( have you found that out from CIFAS?)

[Vexer007]

Re: Can I challenge a CIFA register marker?

Thank you Warwick65, I will check when I get home and respond as per what I am accused off.

Amethyst, Thanks for your response. Payments where not larger than 10k. Usually around 1k, max 2,500 at any time by a client. Payments where only made when I made sales so maybe once or twice a month on a good month, 3 times a month. The way I was being paid was always by bank transfer. The level they put me on is category 8 which I believe is something to do with fraud, misuse of account or insurance fraud.


Many thanks

[Amethyst]

Re: Can I challenge a CIFA register marker?

Had you made any insurance claims ? Seems odd that a Cat 8 was entered by Metro bank tho re insurance and it seems more likely to be a money laundering suspicion considering how you were paid for work, although as a business account that should have been expected/investigated. Possibly someone who had made a transfer into your account was investigated and that's brought your account into the mix. As it has affected your personal accounts/file too then you could look at taking it to the Financial Ombudsman, they have some case studies http://www.financial-ombudsman.org.u...9/issue139.pdf on page 7 although they seem to be mainly related to 'money mules'. You can send a Subject Access Request ( https://www.cifas.org.uk/secure/cont...SAR%20Form.pdf ) to CIFAS to try and find out more information too and then make a complaint firstly to Metro ( if it was they who entered it) then FOS.

[Vexer007]

Re: Can I challenge a CIFA register marker?

Hello,

Thank you for the response. No I have never had an insurance claim and I personally thought it was odd also to put me in category 8 for something I see as minor as customer making payment into my current account for services rendered. I have the subject access details from CIFA already. Thank you for the links, I will check it out. I guess I have to get a lawyer to write a complaint letter to Metro bank right? Do you have any you could possibly recommend that is versed in these sort of issue?

Many thanks once again

[Amethyst]

Re: Can I challenge a CIFA register marker?

I'm sure you could write your own complaint letter once you have a bit more detail on what happened. Have you actually made a complaint to Metro since finding out the marker was down to them ?

[Vexer007]

Re: Can I challenge a CIFA register marker?

No, I haven't made complaint. I had to travel for 2 weeks, just came back now.