Bank Put a Freeze on My Friends Account for Suspected Fraud, Said 4 Week Investigation Now Saying 8 Weeks

jonathonsunshine on 17/12/2018 - 13:28
Last edited 17/12/2018 - 14:43 by 1 other user

So, this has actually happened to a friend of mine, thankfully not myself but he messes around with crypto currencies, someone tried to buy some from him with a hacked NAB bank account, he is also with NAB, they suspect that he did it himself and put a freeze on his account pending an investigation which they said would be 4 weeks (4 weeks ago) and today they have said it will be another 4 weeks.

Any suggestions on how he can get this sped up?

EDIT* Extra info in relation to Frugal Rocks comment.
I believe it was about $500, essentially someone hacked "josephs" account and attempted to buy bitcoin from my friend. NAB stopped the transaction immediately, it never made it to his account but they've put a freeze on it because it might have been my friend doing it. So my friend didn't lose his bitcoin and neither NAB or "Joseph" lost any $$$.

The frustrating thing for my friend is that in the past month, he's received no updates or anything, and whenever he contacts them they just say, "yeah, we need more time for our investigation".

Financial

Comments

  • Rukiata on 17/12/2018 - 13:36
    -1

    Sounds fishy

  • vinni9284 on 17/12/2018 - 13:44
    +1

    https://www.fos.org.au/

  • [Deactivated] on 17/12/2018 - 14:03

    Presumably the bank has suffered some form of loss for this to occur. Do you know the $ amount of the issue?

    • HighAndDry on 17/12/2018 - 14:37
      +5

      More like AML obligations. Banks take that more seriously than losing money.

    • jonathonsunshine on 17/12/2018 - 14:43

      I posted a little more info in the OP

  • [Deactivated] on 17/12/2018 - 15:32
    -2

    Your friend is under investigation by the bank and should really lawyer up. I'm guessing the bank wouldn't have extended the investigation unless they had some thing.

    • jonathonsunshine on 17/12/2018 - 17:27

      Is that under the pretense that he did it? Can a lawyer actually do anything for him if he isn't guilty?

      • HighAndDry on 17/12/2018 - 18:34

        *Presumption?

        But no, not really. He might be able to apply to withdraw moderate funds for living expenses, but he could do that without a lawyer too. He's certainly not going to get the investigation done any faster or waved off.

      • [Deactivated] on 18/12/2018 - 12:14

        That is the most ridiculously niave thing to think that an innocent person doesn't need a lawyer.

        A lawyer will actually be able to give "your friend" good advice, better than they will get here.

        How much money is in the account?

        • [Deactivated] on 18/12/2018 - 12:27

          That's a pretty niave spelling of naive.

  • [Deactivated] on 18/12/2018 - 12:17

    With a bit of research your friend could have chosen to accept only cash deposits via cardless ATM deposit…

    Would have saved him/her a lot of trouble.

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