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Letter of Account Freezing. Justification.

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Additional Letter for FRS. Dealing with Account Operations and Correspondence.
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  Proposal for Financial Reporting Standard: Dealing with Account Operations and Correspondence. Morganist Economics copyright © October 2014 Peter J R Morgan. 1 | Page  Proposal for Financial Reporting Standard; Dealing with Account Operations and Correspondence. Letter of Account Freezing. Justification (draft). Peter James Rhys Morgan.  Proposal for Financial Reporting Standard: Dealing with Account Operations and Correspondence. Morganist Economics copyright © October 2014 Peter J R Morgan. 2 | Page  All rights reserved. no part of this book may be reproduced, stored in a retrieval system or transmitted in any form or by any means, without the prior written permission of the author, except in the case of brief quotations embodied in critical articles or reviews. Published in October 2014 by Morganist Economics. Blog: morganisteconomics.blogspot.com Copyright © 2014 Peter James Rhys Morgan.  Proposal for Financial Reporting Standard: Dealing with Account Operations and Correspondence. Morganist Economics copyright © October 2014 Peter J R Morgan. 3 | Page  Letter of Account Freezing. Justification.   Section 1; Authenticity. XXXX Bank Registration Number. Justification. Letterheads are highly recommended as they provide authenticity to the organisation who sends the letter. ( Headed letters by registered companies, organisations and charities are held with more consideration by legal practitioners and can act as better evidence if the case is taken to court).  Reference to the company's, organisation's or charity's registered number should also be stated as it could help to prevent fraudulent letters being forged by the account user. It can also act as an avenue for legal pursuit if fraudulent activity has occurred on the part of the account provider, which may not be registered to provide an account by the relevant body thus acting illegally or even fraudulently by operating the account. (By displaying registration numbers in official documentation non registered organisations will be spotted).   Section 2; Contact Details and Correspondence Details. Bank/Account Provider's Address Customer's Address Bank/Account Operator's Contact Details. (Date of writing). 1st February 2015. Justification. The address of both the account provider and the account user must be included to make correspondence possible. Contact details of the account operator must also be displayed to enable direct communication between both parties. The date the letter was sent should be included within the letter to provide evidence the letter of account closure was sent within a reasonable time of the action of closing the account. This helps to make sure the customer has a copy of the letter, as well as the bank to legally protect them both. Section 3; Agenda of Letter, Customer and Account Details. Letter of Account Freezing.   Dear Customer In regards to your account No. XXXXXXXX.  Proposal for Financial Reporting Standard: Dealing with Account Operations and Correspondence. Morganist Economics copyright © October 2014 Peter J R Morgan. 4 | Page Your account numbered XXXXXXXX was Frozen on 1st February 2015, which is the Date of Account Freezing. There is suspicion of activity on your account which may be fraudulent on behalf of the user/holder/operator/provider/underwriter/other party. As a result of this suspicion the account user/holder and/or the account operator/provider cannot use/operate the account until proof of fraudulent activity is dismissed. Until either the internal investigation of the operator/provider/underwriter/other party has finished or the account user/holder has proven the suspected fraudulent activity to be legitimate and mistaken the account will be inoperable. While the account is inoperable no payments/transactions/transfers will be possible either into or out of the account. All fees, interest, payments and charges by both account user/holder and account operator/provider will be withdrawn/negated as the account is not functioning to the operational requirements expected by either the account user/holder or the account operator/provider as agreed to when the account was opened. Whilst the account is frozen the legal contract between the account user/holder and the account operator/provider is also frozen. If proof of the identity of the account user/holder is requested by the account operator/provider or legal/investigating party it is required by financial regulations the account user/holder is available to provide evidence to continue the operation of their account. By not providing evidence of their identity the person who has been operating the account will appear suspicious and could be investigated on the premise of identity theft. Please note when the account is Frozen it is still open and inoperable not closed. It is expected by the account user/holder to Unfreeze the account on receipt of this letter as the account cannot be used/operated or even closed until the suspicion of fraudulent activity has been removed, this may require action (often in the form of proof of identification) by the account user/holder. If there is suspicion of fraudulent activity on behalf of the account operator/provider/underwriter/other party the account user/holder can find out more information regarding the investigation by contacting the investigating body, financial regulator or the financial ombudsman service. Section 4; Procedure for complaint or suspicion of fraudulent activity regarding the account. Complain to the Underwriter. The provider of this account has been underwritten by XXXX who may also be held responsible if your account has not been administered by the correct legal standard. You could also contact the account provider's underwriter XXXX if you are unsatisfied with the operation of your account or believe fraudulent activity to have been performed. Address of account provider's underwriter. Complain to the Financial Ombudsman.
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