06/12/23

Overjoyed Client | Bank Accounts Reinstated | CIFAS

Overjoyed Client | Bank Accounts Reinstated | CIFAS
Share

KANGS has recently successfully assisted a client in overturning a Bank’s decision to close his Business and Personal Bank accounts.

Tim Thompson briefly outlines how we achieved this successful result.

The Circumstances

Our client applied for a personal mortgage to a Bank which, having declined the Application, subsequently filed a report with ‘CIFAS’ alleging that our client had provided ‘material falsehoods’ in the form of fraudulent documentation.

CIFAS is a fraud prevention service which aims to deter and prevent fraud in society. It operates two core fraud prevention databases being the National Fraud Database and the Internal Fraud Database. Its services are used by, inter alia, Banks and Building Societies.

As the result of this activity, our client’s Bank, which held his Business and Personal Accounts, gave him Notice of Intent to close his Accounts giving sixty days grace in which to make alternative arrangements.

In the meantime, access to the Accounts was withdrawn.

Shortly thereafter, our client was notified that his Accounts had been closed leaving him struggling to find new banking facilities.

How We Assisted Our Client

Having attended our client obtaining detailed instructions the contents of the contentious Mortgage Application which he had submitted and which gave rise to his Bank’s conduct, the Team at KANGS:

  • advised our client upon the appropriate course to adopt including the submission of various ‘Data Subject Access Requests’ including one to CIFAS,
  • considered and advised our client upon the information disclosed by such requests,
  • discussed with our client the nature of the evidence required to rebut the assertions contained with the CIFAS report.

Our investigations revealed that the filing of the Report with CIFAS was totally unjustified and, accordingly, we collated all relevant rebuttal evidence and prepared and submitted detailed Written Representations, supported by the evidence, to the Bank.

The Successful Outcome

The filing of the erroneous Report with CIFAS resulted in serious financial difficulty and stress for our client.

Fortunately, within days of the Bank having received and considered the detailed written Representations prepared by the Team at KANGS, it reinstated all of our client’s Bank Accounts.

Needless to say, our client was overjoyed with this achievement.

Who Can I Contact For Help?

The Team at KANGS is accustomed to supporting clients seeking advice when facing allegations of financial misconduct.

Our Team regularly advises clients on issues with Banks, Financial Institutions, and others, created by incorrect data stripped from Data Bases maintained by numerous Institutions.

We welcome enquiries by:

Telephone: 0333 370 4333

Email: info@kangssolicitors.co.uk.

We provide an initial no obligation consultation from our offices in London, Birmingham and Manchester. Alternatively, we provide initial consultations by telephone or video conferencing.

Hamraj Kang

Hamraj Kang
Senior Partner

Email Phone Mobile
Tim Thompson

Tim Thompson
Partner

Email Phone
Nazaqat Maqsoom

Naz Maqsoom
Associate

Email Phone
Cryptocurrency, Financial Investigations, POCA
Since the Proceeds of Crime Act 2002 (POCA) was introduced, essential amendments and additions have been made. These changes, which have been discussed in previous articles, enable the legislation to keep abreast of the changing requirements of society and the operation of financial markets. One such requirement is the need to cater for the arrival […]
13/06/24
Financial Investigations, Serious Fraud
The Economic Crime and Corporate Transparency Act 2023 ('the Act') is UK legislation aimed at strengthening the government’s ability to combat economic crime and enhance corporate transparency. Key provisions of the Act include, increased reporting, enhanced protections for whistleblowers and tighter regulations on the formation and operation of companies, amongst other things. Additionally, the Act […]
10/06/24
Financial Investigations, Tax & HMRC
When conducting HMRC investigations, as part of its obligations to ensure that all individuals and corporates, pay the correct amount of Tax for which they are liable, HMRC, as the UK’s tax authority, may implement a HMRC Schedule 36 Notice under the Finance Act 2008 (‘the Act’). These Notices enable HMRC to demand, when reasonably […]
04/06/24

Get in touch

Need legal assistance? Contact our experienced team for prompt and professional support.
Old map of Birmingham