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I’ve had the same thing happen with Citi. No warning, just woke up and found mine and my wife’s accounts frozen pending closure. I’m sure heads will roll when t
by ianhawes 7y ago
I’ve had the same thing happen with Citi. No warning, just woke up and found mine and my wife’s accounts frozen pending closure. I’m sure heads will roll when they realize who they’ve upset, but as for me I never found out.
- undefined3840 7y agoUsually when there’s no reason provided it’s because an account tripped some anti money laundering rule(s). Someone in a compliance team then reviews the account and makes a determination. By US law you can’t tell the customer that you’re closing their account because you thought it was “suspicious.” You just do it and then submit a Suspicious Activity Report (SAR) to FinCEN. I can see how a high net worth individual could have account activity that looks like money laundering, but given his long history with the bank would be surprised if this decision was made automatically or by some junior analyst. It must have been escalated to someone senior, and they must have known who he was and still made the decision.
- conductr 7y agoI have no idea who he is, why should some random “analyst”?
- undefined3840 7y agoBecause that’s literally the job of a compliance person? They have access to Google, you know, and all your personal identity information.