The Bandit blocked - suspected money laundering

[AndrewPearson]

What exactly is going on modem scene

 

[justdoit]

if you Google Barclays -500k debt you see they are 100s of ppl same problem

 

[dunover]

That's old news, that happened way before Christmas. He still hasn't sorted it though.

P.S. I've deleted the poll as it's perjorative and pointless, the choices being 'Freeze or Release the Bandit's money.'

The very question suggests voters have some kind of special knowledge as to the details of the Bandit's case and inside knowledge of Barclay's Bank processes - you don't and nor do I. Furthermore, it implies some kind of judgement on the Bandit himself whereby if you think he's innocent his funds are released and if not, he gets frozen.

1. Everyone is innocent until wrongdoing is proven.
2. This issue happens to many other people aside from the Bandit.
3. Banks in the UK are a law unto themselves (remember the Natwest debanking scandal?) and liable to act arbitrarily now and plead forgiveness later.

Conjecture is pointless and I'm sure he will keep you up to date on his channel to save people speculating.

Thanks.

 

[jasonuk]

3. Banks in the UK are a law unto themselves (remember the Natwest debanking scandal?) and liable to act arbitrarily now and plead forgiveness later.

Agreed, although I would add there's another complication to this - I don't know whether Bandit is UK-based still or he's abroad but with a UK footprint, but that plus crypto casino affiliate is going to trigger a lot of red flags...

People like Bandit and Rolla were getting flagged for suspected money laundering when everything was on the level, things have changed a lot since those days so the investigations could potentially get a lot more complex.

 

[AndrewPearson]

That's a very slippery slope done over

 

[PMKFRUITPRO]

Yes seems to have happened to loads of people. Shocking the way Barclays process during this ‘review’ is to make accounts half a million overdue and then flat out refuse to talk to you or claim any knowledge of what’s going on.

I’m sure it’ll get sorted as that seems to be the case with other stories that you can read on line.

But it’s disgraceful behaviour and something that should be looked at by the authorities.

I remember NatWest doing something similar to a few friends accounts due to the nature of cash deposits that were being made. Tbf most of this was via the coin machines in the banks them selves. Both were fruit machine players and during certain shall we say ‘peak’ times when deposits got a little higher than usual , NatWest took it upon them selves to completely freeze the account and produce a standard letter to said customers. Nobody would talk to them either in branch or via telephone. Just simply had to wait it out. Took about 3 weeks I think.

Bandits case may open another can of worms when it comes to trying to prove where funds are going to and coming from in the fact that altho people can send their money where they want, the casino in question doesn’t allow UK players. Which will be interesting if he’s asked to explain why he’s sending money their via another route and then receiving amounts back?

 

[sufferinsilence]

Yes seems to have happened to loads of people. Shocking the way Barclays process during this ‘review’ is to make accounts half a million overdue and then flat out refuse to talk to you or claim any knowledge of what’s going on.

I’m sure it’ll get sorted as that seems to be the case with other stories that you can read on line.

But it’s disgraceful behaviour and something that should be looked at by the authorities.

I remember NatWest doing something similar to a few friends accounts due to the nature of cash deposits that were being made. Tbf most of this was via the coin machines in the banks them selves. Both were fruit machine players and during certain shall we say ‘peak’ times when deposits got a little higher than usual , NatWest took it upon them selves to completely freeze the account and produce a standard letter to said customers. Nobody would talk to them either in branch or via telephone. Just simply had to wait it out. Took about 3 weeks I think.

Bandits case may open another can of worms when it comes to trying to prove where funds are going to and coming from in the fact that altho people can send their money where they want, the casino in question doesn’t allow UK players. Which will be interesting if he’s asked to explain why he’s sending money their via another route and then receiving amounts back?

Bandit isn't depositing straight to the casino he's playing at so the bank can't see where the money is going beyond the crypto exchange. He can just claim he's buying/selling crypto, there's nothing more they need to know right?

He also went to the local branch and he claims they've allowed him to withdraw some money in cash. Not sure how that works but they must be able to see the "real" balance of his account.

 

[jasonuk]

Bandit isn't depositing straight to the casino he's playing at so the bank can't see where the money is going beyond the crypto exchange. He can just claim he's buying/selling crypto, there's nothing more they need to know right?

If gambling sites are asking for blood type and naming rights to first born as part of their AML processes, I doubt banks will accept that as an answer - they can (and possibly will) keep digging and potentially ask for everything both personal and business... which inevitably will complicate matters further when it comes to light that crypto gambling affiliation is a regulated (and currently prohibited) transaction in the UK.

As much of a wild wild west as crypto has been and continues to be, the financial regulators are slowly getting a grip on it - so someone might be able to explain away small amounts, but you'd expect they would need to be squeaky clean when it comes to larger amounts.

 

[PMKFRUITPRO]

Hence why I said ‘via another route’ in my post.

I’m fully aware he isn’t depositing straight to the casino from his bank account. Because guess what?? In the UK that action is prohibited!!

He could always say to Barclays ‘If u want to see where I am using this money then go have a look on my website, if u don’t want to know then don’t!! But feel free to check out the casinos I’m playing at and any sign ups help support the channel! If you’ve got a spare 30 seconds just a site visit is enough!!’

That should clear up any issues!!

 

[jasonuk]

I’m fully aware he isn’t depositing straight to the casino from his bank account. Because guess what?? In the UK that action is prohibited!!

The same reason crypto portals were prevented from allowing direct deposits to the crypto casinos - UK businesses aren't allowed to facilitate it. Since they aren't going to risk banning crypto entirely (at least not yet) then that's their best plan currently - prevent direct facilitation.

So while Bandit (the casual player) can do that, Bandit (the commercial streamer) is held to a different set of standards...

Worth mentioning that Rolla (who was travelling to Ireland for his streams, but I assume still has UK businesses) has been getting a lot of trouble too - his website has been down for 6 weeks and counting, his personal tweets went dark for a month and he's hidden all of his YT videos after a run of strikes and other headaches. So perhaps the UKGC finally woke up from their years-long slumber? (I'll file that under wishful thinking...)

He could always say to Barclays ‘If u want to see where I am using this money then go have a look on my website, if u don’t want to know then don’t!! But feel free to check out the casinos I’m playing at and any sign ups help support the channel! If you’ve got a spare 30 seconds just a site visit is enough!!’

The thought of Bandit's pandemic-era spiel asking people to message him for a low-key DFS site they can sign up at to "help him out", but to a Barclays manager made me chuckle, so thanks for that.

 

[The Reel Story]

Where did everyone get suspected money laundering from? Pretty sure if they suspect you of money laundering they don't set your balances to -500k and then tell you nothing. He wasn't locked out of his accounts until he contacted them to find out where all his money had gone. They've obviously realised they've cocked something up massively and so have locked the account til they work out what they broke.

This isn't the first time Barclays have screwed a customers account and set them overdrawn due to an error.. Seems a worryingly common occurrence for them actually. Terrible bank so doesn't surprise me.

 

[justdoit]

Where did everyone get suspected money laundering from? Pretty sure if they suspect you of money laundering they don't set your balances to -500k and then tell you nothing. He wasn't locked out of his accounts until he contacted them to find out where all his money had gone. They've obviously realised they've cocked something up massively and so have locked the account til they work out what they broke.

This isn't the first time Barclays have screwed a customers account and set them overdrawn due to an error.. Seems a worryingly common occurrence for them actually. Terrible bank so doesn't surprise me.

Barclays when they frizz you account they do -500k debt so you cant use any longer, happen to many UK ppl , but frizz his account for Xmas is very crazy move, last video he sad they let him get money out on Barclays brunch,

 

[The Reel Story]

Barclays when they frizz you account they do -500k debt so you cant use any longer, happen to many UK ppl , but frizz his account for Xmas is very crazy move, last video he sad they let him get money out on Barclays brunch,

Pretty sure they can freeze your account without setting the balance to negative 500k,and as I said, they didn't actually freeze it until he called. Until then he could still access everything.

 

[PMKFRUITPRO]

Posted in error

 

[SpinUk]

Yea the money launderering thing is pie in the sky (ever heard of tipping off?) but something is up there - the financial ombudsman service would rip Barclays a new one and the Bandit would be looking at a comfortable payout for that if it really was the case. Technically there are teams who would deal with that error right away and the Bandit’s not an idiot. Something is missing from the story is my take.

 

[PMKFRUITPRO]

It occurs when Barclays automated system picks up on what it considers to be money laundering or fraudulent activity on the account. It’s then not resolved until a human being then reviews activity from whatever department Barclays have that deal with it.

As has been stated if you Google it there are loads of times it has happened with numerous other people. All of whom have gone through the same ordeal.

All with Mostly the same outcomes, funds are returned but with no explanation other than and I quote - : “Barclays has been complying with its legal and regulatory obligations. We are unable to share any further information.”

Disgraceful but fairly common it seems.

At least according to what you can find on similar cases on tinterweb!

 

[Valhalla]

Judging by the comments he makes on his videos, Steve doesn’t seem that bothered by it. It’s an inconvenience but he doesn’t seem unduly worried, seems confident that it’ll be sorted out soon and his finances will be back in order.

I have found it fascinating though. I’d be absolutely livid to wake up nearly £2m in debt due to a “banking error” (anyone watching his videos has heard him say all 4 of his Barclays accounts are approx -£500k in the red). It’s a crazy story.

 

[justdoit]

Judging by the comments he makes on his videos, Steve doesn’t seem that bothered by it. It’s an inconvenience but he doesn’t seem unduly worried, seems confident that it’ll be sorted out soon and his finances will be back in order.

I have found it fascinating though. I’d be absolutely livid to wake up nearly £2m in debt due to a “banking error” (anyone watching his videos has heard him say all 4 of his Barclays accounts are approx -£500k in the red). It’s a crazy story.

I google it and many ppl they saying when Barclay check for money laundering will make all your account in debt -500k , last video he did say they did give him some money, but wtf he won 75k on money train 4

 

[Valhalla]

@justdoit yeah I seen the £75k withdrawal lol. He’s had some ridiculous wins.