The Financial Ombudsman Service, which handles unresolved customer complaints, classifies all cases under the relevant financial product, such as giroaccounts, not the nature of the problem, so it cannot say whether complaints about closures are increasing or whether certain ethnic groups are disproportionately affected. What is more telling is that a Barclays spokesperson told Telegraph Money: ”We don`t comment on individual customer cases. As soon as we are alerted to suspicious account activities or are controlled by transaction profiling, we investigate the circumstances, and if we are satisfied that the account is being used to steal the proceeds of crime, we act as quickly as possible to close the account. According to a survey by the Financial Conduct Authority, banks are increasingly including accounts receivable and are not required to explain why. ”However, we may terminate this agreement immediately or less formally (and stop providing services and close your account) if we reasonably believe that you have breached serious or permanent contractual terms, or if we have reasonable reason to believe that you have done one of the following things, which you cannot do. Most of them include in their terms and conditions that they can end a relationship with a client. , whereas the ACF rules must only require sufficient notification. However, if there is a suspicion of criminal behaviour, institutions can be legally removed. It does not have the power to insist that the account be reinstated. And while it may require the bank to provide evidence of illegal activities, it cannot always share it with the customer. In a third of the cases, the FOS found it in favor of the customer. The CFA announced last year that it is working to improve the way banks identify risk accounts and communicate with their customers.
Banks are not required to explain their actions to their customers. Often, through closed verification procedures, clients never discover the crime they may have committed. It says: ”We can close an account (and stop providing services and terminate this agreement) by setting a deadline of at least two months.