Poker
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2 1/2 years ago a friend of mine (who was playing poker professionally at the time) claimed that his bank account had been frozen and he was being investigated for money laundering because of the large amounts of money going in and out of his bank account due to his poker activities. Has anyone else heard of this happening to someone?
He still claims it to be frozen (2 1/2 years on) which seems a long time for an investigation to take place. After speaking to some other people we suspect that he might have been declared bankrupt, as that would account for his bank account being frozen (he didn't have any other assets to seize), but we have no proof.
..and yes, he owes a few of us some money!
He still claims it to be frozen (2 1/2 years on) which seems a long time for an investigation to take place. After speaking to some other people we suspect that he might have been declared bankrupt, as that would account for his bank account being frozen (he didn't have any other assets to seize), but we have no proof.
..and yes, he owes a few of us some money!
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I don't see how they can (unless he was guilty of course)
Not illegal is it .
Not illegal is it .
yeh, we've learnt not to lend mates money the hard way!
They cant freeze ur bank account because of gambling, unless ur claiming full benefits and not declaring an income, the money u deposited into ur account was proven to be passed to u and not won and finally if u are being investigated by the gambling commission for illegal activities in betting markets. Thats it, prob bankrupt and too embarassed to admit hes broke and cant pay his family and friends back.
"They cant freeze ur bank account because of gambling"
Erm, they can, but to suggest they've done so for 2 and a half years without finding anything wrong is stretching credibility, to put it mildly!
Erm, they can, but to suggest they've done so for 2 and a half years without finding anything wrong is stretching credibility, to put it mildly!
Your account is automatically flagged if you deposit more than £10k CASH in one transaction, otherwise sounds like BS.
Chop, just read your post. Banks absolutely cannot freeze your account under normal circumstances, and certainly not because you choose to gamble with your own money.
Are you sure? It used to be £10k. £3k sounds low enough that the number of accounts being flagged would rise faster than the manpower to investigate them all.
your 'mate' is having you on. he obv hasnt got the money to pay you back and clearly doesnt intend to.
as for you account getting 'flagged' it actually gets flagged as low as £1k transactions. the limit actually changes daily/weekly to catch fraudsters.
as for you account getting 'flagged' it actually gets flagged as low as £1k transactions. the limit actually changes daily/weekly to catch fraudsters.
That's not normal circumstances, though. For gambling alone, the banks cannot freeze your account.
They can't deny you access to your money because they disapprove of what you spend it on, otherwise bethammer would have his account frozen every time he visited the cake shop.
They can't deny you access to your money because they disapprove of what you spend it on, otherwise bethammer would have his account frozen every time he visited the cake shop.
:^0 :^0
But surely a large number of "gambling transactions" could easily mean money laundering, which would necessitate an investigation?
You only have to look at prices matched on here on some sporting events for example, if I wanted to do this, gambling would certainly be one of the first places I'd look!
But surely a large number of "gambling transactions" could easily mean money laundering, which would necessitate an investigation?
You only have to look at prices matched on here on some sporting events for example, if I wanted to do this, gambling would certainly be one of the first places I'd look!
3k does not mean your investigated
it just gets recorded, what pattern occurs depends on what happens.
it just gets recorded, what pattern occurs depends on what happens.
plenty of ways to clean cash, will all stop in few years though, have to pay by card or chip, tax revenues will rocket.
BlufDaddy 29 Mar 22:25
That's not normal circumstances, though. For gambling alone, the banks cannot freeze your account.
They can't deny you access to your money because they disapprove of what you spend it on, otherwise bethammer would have his account frozen every time he visited the cake shop.
You never start the abuse do you bluf? Its always retaliation... more rubbish coming out of your mouth.
That's not normal circumstances, though. For gambling alone, the banks cannot freeze your account.
They can't deny you access to your money because they disapprove of what you spend it on, otherwise bethammer would have his account frozen every time he visited the cake shop.
You never start the abuse do you bluf? Its always retaliation... more rubbish coming out of your mouth.
Even if you're on benefits they cant freeze your account, gamblng winnings are tax-free.
If you got more than I think it's 8K in bank they can stop your benefits thats all.
They can only freeze your account if you go bankrupt or they think you're doing fraud, i.e money laudering.
If you got more than I think it's 8K in bank they can stop your benefits thats all.
They can only freeze your account if you go bankrupt or they think you're doing fraud, i.e money laudering.
LadyC if ur on benfits and getting an income or money from gambling whether its tax free or not doesnt matter, some pensions are tax free and u still have to declare the income. Ex wife was a benefits fraud officer so i got it straight from the horses mouth, literally. Bank account threshold is 3k, anything more and u need to declare it apparently.
Yes you declare it but it changes nothing cus its tax free, only income thats taxable counts unless your savings are 8K
if u earn from gambling and drawing benefits without declaring, when they do ur assessment each yr and ck ur bank statements, if ur daft enough to use the same account, they see u have regular income then they r entitled to take that money into consideration when assessing the amount and type of benefit u can claim. whether they do anything else is doubtful, its just a matter of declaration.
just rang the horse and she put it thru her comp at work, 15k savings on job seekers and getting £300 per week from another source, ie gambling or pensions means ur entitled to £0 benefit, if ur claiming full benefit and they find out u will lose ur benefit and they can assess u back to when u made ur claim and freeze ur assests whilst they look. So if ur mate lives in lincoln chances are the horse did it. mean just down right mean
no its based on any regular income whether taxable or not, as i said ie gambling or pensions, some pensions arent taxable, i have a forces pension which isnt taxable but if i was claiming benefits it would still be taken into consideration when they asses how much im entitled too.
anyway the bloke just ripped a load of people for some cash and made up some story happens everyday
Lol, my mate been claiming for 5 years, wins loads from gambling, only has one account, which he does at least 4 transactions a week but never leaves more than 2K in there.
Never ever been questioned mine stopped anything.
Never ever been questioned mine stopped anything.
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