Question posted in the General Law category relating to KwaZulu-Natal
I run a business online. I received a payment for goods purchased and the person paying received the goods. A few hours later my funds in my bank account was frozen and the bank says a fraud case has been filed, and the person who paid me used fraudulent money. Is it fair that my account be frozen? I have shown proof to the bank why I received the money. Am I in the wrong for receiving fraudulent money? How was I to know it was fraudulent money? I don't think any business asks the person paying where did you get your money from? What can I do?
Information Requested by Lawyer
I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment, even if it is R150 or R200.
Q: Is it fair that my account be frozen? --> No, it's not fair, but if a bank suspects fraud, the bank generally freezes and account until the bank can sort out what's happening. If your customer paid you via EFT, then you might need to refund them, if the funds were part of a fraud. If you've already sent the goods, you might not get the goods back. This is why some online stores only accept credit card payments, because there is insurance in place.
Q: I have shown proof to the bank why I received the money --> The fraud isn't you committing fraud, rather the customer committing fraud and paying you using stolen money.
Q: What can I do? --> Allow the bank to remove the "stolen" money from your account, into a holding account, and then un-freeze your account so you can continue operating.
Please remember this is a dialog if you have follow-up questions please make the required deposit, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make deposits for their questions - they get serviced first!