Among Friends

[CrazyDaisy]

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@Mj12 wrote:

https://www.justice.gov/opa/blog/holding-accountable-financial-institutions-knowingly-participate-co...

And when financial institutions choose to process transactions even though they know the transactions are fraudulent, or willfully ignore clear evidence of fraud, they are profiting from illegal activities as well as breaking federal law. 

So no - banks cannot just do whatever a customer tells them to do.

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The transactions are not fradulent, people transfer funds overseas everyday. 

If they think something is wrong, why did they not call law enforcement to handle the situation?  What clear evidence did they have?  How are they profiting? 

[Mj12]

I'm just sharing what I found on the DOJ site since the question came up, I was curious.

[151949]

When you deposit your money in the bank it is still YOUR money - you allow them to use it in return for it being held safely and earning some modest interest.They can not tell you that you can't have it because they don't approve of the transaction.Unless they can show proof that you are being scammed - PROOF- not an opinion - You could take legal action against them.And,yes, people do make international transactions every day of the week. Don't most banks have a specific department that does this type of transaction?

[Financialgrl]

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@jackthebear wrote:

at least the bank is being diligent and watchful

all money over 10K has to be accounted for in all transactions

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Yep - google the Patriot Act.  Additional scrutiny for amounts $10K or more bc a lot of funding of terrorism was occurring bc of transfers of large sums of money.  I tried to move money from a bank account into the stock market and I had to physically drive to my planner's office to do it and that was from one financial institution to another, but it was over $10K and I had to sign documentation and they needed a copy of my driver's license for their files. 

SORRY, I'm with others here - sounds exactly like a scam.  If they make the transfer of the $ and then it turns out to be a scam you'd be angry that there were no safeguards in place to prevent this.  It's for your protection, whether you need it or not!  If he is standing in front of you and you lend it to him, that's one thing but again, whether here or afar - $10k triggers holds and extra scrutiny.

[Nightowlz]

Well @shiningstar never came back. Hope she does not get scammed out of her money.

Same thing happened to my MIL. The caller was suppose to be her grandson which is deceased so she knew it was not him even though she said it sounded like him.

[Tinkrbl44]

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@shiningstar wrote:

Long story, but will try to make it short.  My cousin who is out of the country needs to borrow 20,000.  I have given him money before and he has paid me back.  The problem is the bank will not transfer the money to his account and we deal with a well known bank.  They say it's a scam.  If I withdraw the money, do you think they will let me send it to him through the same bank transfering the cash it into his account.  I'm so tired dealing with these people. 

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@shiningstar

I was wondering how you decided to deal with this ....  no one wants to see you get scammed!    If there's ANY possibility that this really is your cousin, why not just transfer the money to their U.S. account and let them deal with the transfer?