Jump to content
Left leaderboard
Quatschmacher

Musical terrorism?

Recommended Posts

Just had a funny thing happen. I paid a deposit for an Industrial Radio MIDIBass at the end of December and the payment has still not cleared into the company’s account nearly two weeks later. I contacted my bank today to find out what was going on and it turns out that the intermediary bank (HSBC US) has held the payment as being suspicious. My reference was IRN-## which is my invoice number. I got asked if the payment was related to Iran and was asked a whole bunch of other security questions and asked for information about what the payment was for etc. 

Was tempted to say that I normally pay for my arms to rogue states using bitcoin!

  • Haha 13

Share this post


Link to post
Share on other sites

Banks 🙄. Don't get me started. My Dad manages the private estate where he lives. Gets money off each household for maintenance of the grounds, buildings, insurance etc etc. He's been doing it for a couple of decades and has always used Nat West. It's legit, registered company, all above board and Nat West have been almost completely silent throughout.

They wrote to him last year asking for various details above and beyond what they already had. Really detailed stuff about every person involved. He supplied it all in person. Handed it over to someone at the branch and they've lost the lot.

Account is now frozen with about £80k sitting in it. Apparently, they think my 87 year Dad is money laundering. He's going down there again today. I've told him if he doesn't get any joy to hand over the business card of his solicitor and tell them to expect a phone call. 

  • Like 3
  • Confused 1

Share this post


Link to post
Share on other sites

In defence of the banks...

Have you seen the legislation that they are expected to follow?  And the penalties for getting it wrong? There is no wiggle room or any space for common sense, it's all about proving beyond doubt that everything is legitimate, no matter how inconvenient it is for the customer

  • Like 2

Share this post


Link to post
Share on other sites

My wife and I bought a house last year with inheritance money, our savings, and an individual retirement account she was left by her Dad back in the US.

As these collected funds meant that we didn't need a mortgage we were audited, to make sure there was nothing dodgy going on. Some very quick explanations were needed when we told them that a third of the money was coming from the IRA!

  • Haha 5

Share this post


Link to post
Share on other sites
52 minutes ago, Monkey Steve said:

In defence of the banks...

Have you seen the legislation that they are expected to follow?  And the penalties for getting it wrong? There is no wiggle room or any space for common sense, it's all about proving beyond doubt that everything is legitimate, no matter how inconvenient it is for the customer

Don't have a problem with them asking the questions. It's when their questions are answered, they lose all the paperwork that was hand delivered to them and they then freeze the account without warning that I have an issue with 😡

  • Like 2
  • Thanks 1

Share this post


Link to post
Share on other sites

The funniest thing is that according to these new laws, only the USA free taxes extra territories will be allowed to do the money laundering. And nobody noticed it. Strange, no ?

  • Like 1

Share this post


Link to post
Share on other sites

Meanwhile  Billions of dirty money is being laundered through the City and shell companies which the Govt has turned a blind eye to...

  • Like 10

Share this post


Link to post
Share on other sites
1 hour ago, hiram.k.hackenbacker said:

Banks 🙄. Don't get me started. My Dad manages the private estate where he lives. Gets money off each household for maintenance of the grounds, buildings, insurance etc etc. He's been doing it for a couple of decades and has always used Nat West. It's legit, registered company, all above board and Nat West have been almost completely silent throughout.

They wrote to him last year asking for various details above and beyond what they already had. Really detailed stuff about every person involved. He supplied it all in person. Handed it over to someone at the branch and they've lost the lot.

Account is now frozen with about £80k sitting in it. Apparently, they think my 87 year Dad is money laundering. He's going down there again today. I've told him if he doesn't get any joy to hand over the business card of his solicitor and tell them to expect a phone call. 

14 day written notice to bank then get thee hence directly to the ombudsman

 

  • Like 3
  • Thanks 1

Share this post


Link to post
Share on other sites
21 minutes ago, steve-bbb said:

14 day written notice to bank then get thee hence directly to the ombudsman

Just spoke to him. He had a full and frank conversation with someone who was willing to listen and they are now saying they will have it sorted within 48 hours. He also pointed out that the bank was asking for £12 per cheque (I know, but the fossils he’s dealing with still like cheques) that had been deposited after the account was frozen and before they told him it had been. They have agreed that this is a little unfair 🙄

  • Like 1

Share this post


Link to post
Share on other sites

When I bought my first property the mortgage company went through my bank account in forensic detail and I got questioned about £14 per month DFS sofa payment and a £7 a month fee to be a member of a professional body. They never asked why my Vodafone bill was well over £150 in one month though... 

 

 

Nothing dodgy. I was on hols in the US while my girlfriend, now wife, was visiting family in Australia. Expensive phone calls and messages! 

Share this post


Link to post
Share on other sites

We laugh, but it's almost as daft and thoughtless as when protesters though US IRA pension funds were to do with the terrorist IRA.  Youd think people would realise that, a) a few letters in a reference number is hardly evidence of anything amiss, and b) if you were trying to buy fissile material you'd hardly be likely to make any reference to the rogue state for which you work in the reference number.

And don't get me started about money laundering.  I get all this crap when clients pay me for my work.  The regs are well intended but utterly stupid - they inconvenience normal, decent folk going about their daily lawful business while doing little to actually stop criminals from laundering money. This country is very good at kneejerk legislation and bureaucracy.

Edited by Bassfinger
  • Like 4

Share this post


Link to post
Share on other sites

The FBI once closed down Basschat (an earlier incarnation) because of terrorism.

True story.

  • Haha 1

Share this post


Link to post
Share on other sites
Just now, MacDaddy said:

The FBI once closed down Basschat (an earlier incarnation) because of terrorism.

True story.

i could just leave it there :) 

but apparently it was to do with the servers in the USA, which had been accessed by some wrong 'uns, so the FBI closed down the servers.

Share this post


Link to post
Share on other sites

dunno about musical terrorism but there's plenty of criminal records

 

 

 

I'll get me coat

and yes banks suck big time, no managers any more just box tickers. Generally tolerable as long as you remember they're simply a business out to screw you for as much as they can get away with as cost effectively as possible

  • Like 2
  • Haha 7

Share this post


Link to post
Share on other sites

In the 80's I was working to develop a new computer system for a major UK credit bank. When specifying the requirements the user department's senior manager asked what we should do about Mr xxxxx. We said, "Pardon?" Apparently every couple of months Mr xxxxx turned up with a large suitcase full of cash, which the manager accepted and fed into the old computer system. How could they input the cash in the new system? They couldn't see the problem, even after we had explained that this was totally illegal!!

Share this post


Link to post
Share on other sites

Guys I can really recommend the book "Moneyland" for anyone interested in the bigger picture of offshore banking and what it's doing around the world...a great read!

https://www.amazon.co.uk/Moneyland-Thieves-Crooks-Rule-World/dp/1781257930/ref=sr_1_1?keywords=moneyland&qid=1579010870&sr=8-1

I feel bad posting a link to where to get it from one of the biggest tax dodging corps of all, but maybe you'll get it from your local bookstore..if you still have one!

  • Like 1
  • Haha 1

Share this post


Link to post
Share on other sites
41 minutes ago, chris_b said:

In the 80's I was working to develop a new computer system for a major UK credit bank. When specifying the requirements the user department's senior manager asked what we should do about Mr xxxxx. We said, "Pardon?" Apparently every couple of months Mr xxxxx turned up with a large suitcase full of cash, which the manager accepted and fed into the old computer system. How could they input the cash in the new system? They couldn't see the problem, even after we had explained that this was totally illegal!!

My ex worked in a high street branch of a very well known bank in the late '80's/early '90's.  This was back in the days before banks had a legal obligation to give bad references for former employees who have been dismissed, or even suspected of anything dodgy, and she had lots of tales about branch managers taking "early retirement" after large amounts of money was found to be missing, because the banks didn't want the bad press that might come with sackings and prosecutions.  Armed with a neutral reference confirming their experience of managing people's accounts, they often reappeared at a different bank in a different town to start again.

Anyway, she told me that at her branch in a fairly busy bit of South London, they would regularly have visits from foreign nationals, typically straight off the plane from South American, who wanted to open an account in which to deposit their holdall (and in more than one case, a suitcase) full of US dollars.  They never had any papers beyond a passport, and rarely spoke English.  And because the branch managers got an annual bonus that was partly based on the amount of new accounts opened and the total level of money on deposit, they were very keen to be as welcoming as possible so that word might spread amongst the other South American travellers, even though the bank had a strict policy on not accepting anything that looked like it might come from the drugs trade.

Share this post


Link to post
Share on other sites
1 hour ago, Quatschmacher said:

23 days later and this still hasn’t been resolved!

😱 Reminds me of Spain under Franco.

Share this post


Link to post
Share on other sites
1 hour ago, Quatschmacher said:

23 days later and this still hasn’t been resolved!

I feel for you. Nat West in their infinite wisdom have unlocked the account my Dad manages until Feb 14th. This is to allow time for all the documentation (which they lost and don’t know where it is) to reach its destination. If that doesn’t happen, he’ll be back to square one. In a way, it’s almost worse as they’re kind of accepting that the account isn’t being used to launder money or they couldn’t justify unlocking it all, but if the paperwork doesn’t appear, everything will grind to a halt again 🙄

Share this post


Link to post
Share on other sites
1 hour ago, hiram.k.hackenbacker said:

I feel for you. Nat West in their infinite wisdom have unlocked the account my Dad manages until Feb 14th. This is to allow time for all the documentation (which they lost and don’t know where it is) to reach its destination. If that doesn’t happen, he’ll be back to square one. In a way, it’s almost worse as they’re kind of accepting that the account isn’t being used to launder money or they couldn’t justify unlocking it all, but if the paperwork doesn’t appear, everything will grind to a halt again 🙄

That does seem daft. I hope it gets resolved. 

Share this post


Link to post
Share on other sites
1 minute ago, Quatschmacher said:

I don’t follow. 

It may be a Dutch thing. I'll try and explain. Sorry for the wordiness. It's really too late for me to write posts.
During Franco's reign, we were flooded with tales about Spain and its men in power -  typically like:
Some official person somewhere revels in interpreting everything as unlawful or subversive etc., and then with great rigidity - which is both a personality trait and an acquired taste - won't give in.
In his mind it's a weakness to let people live their lives. Bullying them is good for the ego and good for the state.

Something vaguely along those lines.
At least where I lived, or in my circles, Spain was consistently used as the example of everything bad.

Share this post


Link to post
Share on other sites
9 hours ago, BassTractor said:

It may be a Dutch thing. I'll try and explain. Sorry for the wordiness. It's really too late for me to write posts.
During Franco's reign, we were flooded with tales about Spain and its men in power -  typically like:
Some official person somewhere revels in interpreting everything as unlawful or subversive etc., and then with great rigidity - which is both a personality trait and an acquired taste - won't give in.
In his mind it's a weakness to let people live their lives. Bullying them is good for the ego and good for the state.

Something vaguely along those lines.
At least where I lived, or in my circles, Spain was consistently used as the example of everything bad.

Ah, I see. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...