zuluwarrior
Member of DD Central
chap from Newcastle, dabbling here and there. Long-time lurker of the forums
Posts: 51
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Post by zuluwarrior on Apr 14, 2022 17:06:47 GMT
I was verified successfully in October 2019 (got an email) but now Lendy ask me to reverify again before I can withdraw money. Has anybody had a similar issue? Is this just a mistake or a shameless attempt to extract more money by the administrators? Common practice to renew AML, administrators will want to make sure they are fully compliant otherwise it comes back on them.
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rocky1
Member of DD Central
Posts: 993
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Post by rocky1 on Apr 15, 2022 6:52:26 GMT
should make sure platforms are fully checked especially directors of said.these fintech companies are dealing with hundreds of millions of pounds of ordinary peoples savings/isa/etc and should at least produce fully audited accounts as part of FCA compliance.i think kuflink are the only platform to do so and it is suprising what comes out and what is really going on behind the scenes. full disclosure and regular updates instead of faff and can kicking until the loans result in losses to nobody else but the lender.
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sb
Posts: 166
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Post by sb on Apr 15, 2022 11:29:07 GMT
I was verified successfully in October 2019 (got an email) but now Lendy ask me to reverify again before I can withdraw money. Has anybody had a similar issue? Is this just a mistake or a shameless attempt to extract more money by the administrators? Common practice to renew AML, administrators will want to make sure they are fully compliant otherwise it comes back on them. Never happened to me before and I've had tens of various investment accounts in my life. I wonder what is the point. Have I become someone else suddenly? Have I traveled in time and changed a source of invested funds?
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rocky1
Member of DD Central
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Post by rocky1 on Apr 15, 2022 14:08:19 GMT
the point of lets do AML checks every 12 months whilst we are doing sod all on the rest of the loanbook and claim an extra few hundred hours on this very important exercise.got to be careful that scammers dont get hold of our funds before the recievers/administrators/platforms etc etc take their cuts.
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sb
Posts: 166
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Post by sb on Apr 15, 2022 14:25:38 GMT
the point of lets do AML checks every 12 months whilst we are doing sod all on the rest of the loanbook and claim an extra few hundred hours on this very important exercise.got to be careful that scammers dont get hold of our funds before the recievers/administrators/platforms etc etc take their cuts. What funds? Those which were supposed to be recovered? How do I tell who are scammers and who are the receivers/administrators/platform?
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gustapher
Member of DD Central
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Post by gustapher on May 10, 2022 9:07:35 GMT
Just had my email on this AML stuff all of sudden.
Its a pain to do and my withdrawable funds still says zero (I'm in DFL0012 and DFL004 only).
Is there any point in doing this?
I assumed from what I've read that we're not actually going to get anything else back on these loans (having been blatantly ripped off) so just wondering if it is even worth doing?
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bugs4me
Member of DD Central
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Post by bugs4me on May 11, 2022 14:15:57 GMT
<snip> Is there any point in doing this? Yes there is - sending a plain email or using a paper clip is being charged for by the administrators. If it wasn't AML checks there would be something else. As was mentioned some time ago by a fellow forumite, administrators are nothing but legalised sharks that will continue eating until the fish runs out. Then suddenly everything will be wound up but until then....
There's absolutely no incentive to return what is due to investors whilst those sharks administrators can keep clocking up their fees and use any spurious reason for doing so. You can drop them an email and they will charge for reading it whether they can be bothered to reply or not.
It's a total injustice!!!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 11, 2022 20:02:45 GMT
Just had my email on this AML stuff all of sudden. Its a pain to do and my withdrawable funds still says zero (I'm in DFL0012 and DFL004 only). Is there any point in doing this? I assumed from what I've read that we're not actually going to get anything else back on these loans (having been blatantly ripped off) so just wondering if it is even worth doing? DFL012 - there is a further small recovered amount held in the client account plus £1.9m of Lendy 'fees' the allocation of which is subject to the current negotiations between RSM & LAG representative. Looking at the latest LAG FB post on this loan unlikely to be anything more from the security package. Only remaining option would be a PI claim but no visibility on anything. DFL004 - well there is £6.5m in the pot but if & when lenders will get any of it appears to be in the hands of the Courts. Next official (non) update on the saga due in a month.
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Post by pjt1 on May 12, 2022 10:25:44 GMT
Re: DFL004 There was a judgement in December that was particularly disastrous so that doesn’t bode well.
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gustapher
Member of DD Central
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Post by gustapher on May 13, 2022 13:16:52 GMT
Thanks very much for the replies all - much appreciated.
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