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Though this sounds a difficult situation, I do understand that the bank aren’t able to explain the reason as it would potentially be tipping off a fraudster or
by benjaminwootton 4y ago
Though this sounds a difficult situation, I do understand that the bank aren’t able to explain the reason as it would potentially be tipping off a fraudster or someone who is breaking sanctions.
Monzo in the UK had this issue and put out quite a convincing defence if I remember correctly, though I cannot find the statement right now.
- YawningAngel 4y agohttps://monzo.com/blog/2019/04/04/why-we-block-freeze-close-monzo-accounts https://monzo.com/blog/2019/04/04/why-we-block-freeze-close-...
- gadders 4y ago>>There are also rules that explicitly stop us from giving information about why we’ve closed an account, to protect ongoing law enforcement investigations. (This is known as ‘tipping off’.) I thought closing the account would actually be tipping off? i.e. if Mr Money Launderer suddenly sees an account of his closed with no reason given, would he not think he was being investigated?