They called me and asked me why I had so many transactions, I said because there is a contest by another bank and I transferred between my own accounts (different banks) to generate entries.
They were not satisfied so they closed my account and returned the money to me. (All transactions are FPX/instant transfer, does not involve physical cash)
Now I am worried that they will put my name in a central blacklist or something, causing all banks to close my account
Anyone experienced this before ? Should at least give me a chance to explain , I have all the documents to prove that everything is legit
I know every bank has the sole and absolute discretion to decide if they want to close your account, I am just worried if my name will be in a central blacklist

This post has been edited by ayambijan: Dec 11 2018, 07:55 PM

Maybank MyM2U


i also transfer 4 times a day for this

i also scared one day my account will get blocked ....

This post has been edited by john123x: Dec 11 2018, 08:02 PM

must b a really outrageous number 4 them to flag it

cannot explain one. bcos true money laundering people will do the same thing as you just purpose different only. since symptom is the same, they don't want to kena fine so they straight away close account to be on the safe side lor.

i suppose you can test their sop by going there and open a new account again, see whether they cross check your previous history.

other people doing far more transaction than you lah. if legit and got supporting doc why not?
but if yours is fresh account you will get a phone call from the branch and will invite you for a tea session

depending on your taichi skills and branch manager mood, they can ask u to open current ac with them or will close ur acc on the spot. yes bank got power to do that. u like or not. it is their bank

otherwise if kana audit sure kana under AMLA

You do it once a month or daily?

must be tiger bank

if suddenly got influx of incoming $ daily sure kana red flag by system

they close ur acc wont kana blacklisted centrally lah. if kana also from own bank only.

try other banks lah. next time open current acc, basic one also can

you cannot do this with savings account.

there's current account for a reason.

I understand now. But is there a central blacklist ? I am so scared man... Nowadays if you don't have a bank account, you cannot function at all.

since they are so many youngster helping ppl to launder nowadays ...i overheard they say 10k get 100 liddat ...

How many is "so many"?

unless if u kana charge under AMLA

if not keep laundering until GGWP

different bank got different list of "red flags"

unless if ur name and id matching with the telolist name in UN list , well , GGWP

BNM's FIU is very strict on this matter.

Akaun2 bijan dibeku

he was charged with 3 counts under AMLA

sure kana freezed

im not sure about central. why don't you check with BNM?

yeah... current account is only for my company.. in and out whatever amount also no red alert (not more than 30K per transaction IINM).

Savings account for personal use . debit card. McD.. groceries.. shopping.. pay bills... etc..

How many is many?

20 txn a day?

Mana satu?

Sounds like an international bank flagging up this under extra measurement.

From now on better dont exceed RM 20k per transaction.
BNM is watching tight.

Account mule ke?

u think bank want to share the info with the customers?

it does not work that way

He is avoiding the transactions per day question haha

IDK how much is how much.
I heard somewhere BNM is implementing declaration must be made for > 20k/transaction next year

Not possible. All transactions are to and from my own accounts , but in different banks.
Not a single cent to anyone else

That's for cash

Yes, international bank. Are they more strict than local banks ? Is there a central blacklist ?

launder money la hahaha

first qns, yes
secomd qns, depending on bank. some bank only maintain local blacklist, including bnm list, some bank share globally

wont kena AML/CFT or AMLA terus laaaaa. so small fry.

but, yes. bank have record of closing your account. by right, you should have taken the initiative to close down your bank account first before they do it for u. ggwp

tldr: nothing serious, don't worry.

Can not disclose too much. Lol!

Flag up under suspicious transactions. Did you show them the promo or campaign that was on going and was it for real?

And there is some questionnaire needed to tick off the box.

How many transactions per day?

file complaint with bank negara. Sure they scare of u after that.

Yes it was
I didn't have the have to.
First I received a call, explained to her, she seemed to accept it
But then a month later bam receive the letter
Should have called me up asking for the evidence, I would be very willing to cooperate

I checked the statement, in the most busy month, 250 transactions out, 150 transactions in
That is over a month so personally I don't think that's a lot .
And that's a very busy month compared to others

Still no answer to the how many transactions per day question?
Edit: ah there it is

This post has been edited by maxomeara: Dec 11 2018, 09:23 PM

Over a month is about 9 transactions per day. Not that many actually

you went for FPX contest ke?

ts money laundering ni

u did like that, u tot bank x takut ka

next time use current acc la... said u do biz

conlan7firm dobi shop lar lol

Buz current ac also can close one

serve you right for playing with banking system

no way

tell him the acc for biz

you can use bitcoin. who needs banks or kash

True story by h l b

More details bro?

actually whats the point of savings account

How many times u transferred?

A temporary place for u to keep the money b4 u figure out what to do with it

only bodo so desperate do this to get point for m2u spin challenge

"the system" will determine whether your account kana flag for suspicious transaction , be it for rm10 or rm5K transaction for example.

it is an offence under AMLA if the bank failed to report the suspicious transaction to FIU of BNM

the system detected that you want to "game" the system, that's why kana red flag

TS name must be either in the wanted list of IAIS, BIS, IOSCO etc

GGWP

most likely your name kana under BNM

confirmed kana red flag, summore fresh new saving acc

GGWP

i also got do this m2u

This.

actually what so special with M2u Spin? I only have 33 points...

Close account got termination fees?

Me also want to know.

i have 304 points and maybank giving me all the useless voucher

i kena and found out saving account can only do 150 tx max every 15 days cycle from tiger bank.

need go bank and explain, then it takes 3 working days to clear the audit trail lmao.

i'm not banker.

- but from my observation.. savings account offer higher interest rate than current.
- i'm not sure if it's true but there's a limit for ATM card usage (for ATM withdrawal.. not the amount) per month
- and as i said, current account meant for business / expenses purposes.. lots of transaction etc..

CIMB got termination RM10 fees?

150 tx every 15 days, that means 15 tx daily.

BANK OF IMAGINARY?

if i just have savings account possible to open current account online?

in b4 my username

depends on your bank, bro. some banks still need introducer even you are a long time customer. some bank ok go only. some bank need to see if you really have money. Online / offline.. same thing.

2 cents...

Just because of peraduan, all that trouble

wow seems like not guideline, just depends on bank

yup. it seems like it...

My experience :

Bank A (International) : Walked in. Present paper etc.. Form... wait 3 - 4 days.. approved.

Bank B (Local.. not even top ranking bank) : Walked in. They looked at me upside down. Rejected on the spot. Hehe..

Sometimes, it can be the branch decision.

normally this is because of suspicious activity i think. thats why they make savings and current account.. where current account can be use to receive huge amount (opening this account need pay)

which bank is this?can ask their cs or walk in to the bank?

is your story butul ka? you seems to be suspicious ..

wait...

savings account for large amount if I am not mistaken, current account for day to day expenses?

HAHA last time study at which school?

CIMB?

yes.. day to day expenses and can receive huge amount at one time as well... i dont know the system will detect it as suspicious activity.. according to friend work at BNM, its straight away fall under Anti-Money Laundering, Anti-Terrorism Financing (AMLA). saving acc is for saving not for business transaction... unless open business account or current account. current account need deposit i think.. depends with bank

Tak hansemkah?

Failed maths...

Need how much deposit?

ok found this:

"Current" is another word for Checking, as it is called in the US.

Savings account is an interest-bearing account with certain limitations. For example, in the US you cannot withdraw money from it more than 6 times a month. Here is the explanation why.

Current account is a "general-use" account on which you can write checks, use ATM/Debit cards and have unlimited transactions. It can also have negative balance (if your bank agrees to let you overdraft, they usually charge huge fees for that though). Checking accounts can have interest as well, but they usually don't, and if they do - it's much lower than the savings account interest.

from Maybank seems quite easy to open a current account.

Current account not as popular here, because here our savings account behave like their current account
typically no limit on the number of withdrawals, and the interest is so low I consider it negligible (usually 0.2 to 0.3% pa)

depends with bank.. maybank for example ask rm500..

its quite common nowadays especially after 1mdb thing.

Bank manager will be asked to invite certain suspicious customer come to drink coffee chit chat for KYC .If they unsatisfied, they will issue notice to terminate your account. You have no choice.

think of this way
if they accept your explanation but your action is somehow suspicions/link/related with hacking activity
if the real breach is happening.....someone's rice bowl are going to get burn just because of they accept your "contest entry" excuses
for me, if i stand on the side of the bank, i would definitely close down your account without a doubt
you play game for fun and increase the possibility to win with the so called "smart" way
but for them, every inspection is crucial to the organization

hehe.. maybe...

What is KYC?

Kenali Pelanggan Anda
Know Your Customers

Did u join this?
https://www.rhbgroup.com/transact_win/index.html

How many transaction u make to win?

most of our accounts here are current accounts. They just call it savings but that's a misnomer.

the true savings account are those step up accounts where your money is locked there for a few months.

Becos u using d free saving account in. Bank wan make money peddle annual fee savings account to us.

US checking acct a bit different from our current acct also. Different in the sense that they give / approve checking accts for basically everybody, even international students with no prior banking history in the US.

Most of our accounts are savings account, because you do not get access to a cheque nor overdraft facilities with it.

no access to cheque doesn't mean it is a savings account.

for individual accounts its not normal to have so much transactions hence its flagged unlike business accounts

But no access to cheque does mean it is not a current account.

yes. im using maybank too. open saving and current acc.
current acc can transfer many many many time not kena ban.hahahahah
sad ts dont know about this...awww