Quentin Hunt ensures that HSBC and authorities unfreeze Bank account on behalf of Jewellers
BBW Ltd are Jewellers who operate a large-scale business purchasing and selling high value wrist watches. Without warning or notice, they were informed that their bank had frozen their business account. This meant that they were unable to continue to trade and were unable to access over £750,000 held within the account. Representatives of the company had tried to contact the bank to question why the account had been frozen and what information they could provide to resume banking services. They had been met with a wall of silence. The company needed access to their funds and their relationship with customers and suppliers was beginning to suffer.
The Director of BBW instructed Quentin Hunt on a direct access basis to act on their behalf. Upon instruction, Quentin held a conference with the directors and finance department at the company to ascertain the trading activities of the company prior to the bank account being frozen. Quentin was able to advise the Company on banking processes and the effect of sections 330–332 of the Proceeds of Crime Act 2002 that relates to duties to report suspicious information to the National Crime Agency and Suspicious Activity Reports.
Following the receipt of business information, Quentin engaged in communications with the Bank and the NCA in respect of the account and transactions that may have been of interest. The aim of the communications was to alleviate any suspicions that may have arisen over what were entirely legitimate transactions.
A very short time later BBW’s accounts were unfrozen by HSBC and they regained full access to all their banking services. They were able to continue their trading activities and there was no adverse effect to their customer or supplier relationships.
If you are affected by a frozen bank account, you may be frustrated about lack of information or progress and your personal or business affairs may be prejudiced. Quentin Hunt is a Criminal Barrister who is experienced in the area of account freezing orders under the Proceeds of Crime Act 2002 and the operation of frozen bank account under the Criminal Finances Act 2017. If you have a problem in this area you may contact Quentin for a confidential, no obligation conversation about your circumstances.