Twist after Australian trader explodes at Commonwealth Bank

A bank customer who was barred from withdrawing $15,000 until he explained how he would spend it, learned that he was able to withdraw cash from his account after making a ‘view’.

Richard Dargham went to the Carnes Hill Marketplace in the southwest to make a withdrawal when he visited a Commonwealth Bank Sydneyon Thursday.

he said in one TIC Toc The video bank tellers flagged the withdrawal as a possible scam and demanded to know how he intended to spend the money.

The footage went viral and has been viewed over 594,000 times, with most social media users expressing sympathy for Mr Dargham.

He later provided an update on the situation in a follow-up video revealing that he was able to get the money back ‘once I made a scene’.

“Once I got my $15,000 after doing a scene, I literally told them that if I didn’t get my money, I wouldn’t leave the bank,” he said.

A bank customer who was barred from withdrawing $15,000 until he explained how he would spend it discovered that he was able to cash out his account

Mr Dargham, who runs the leading construction company Yes I Can, said he was under a lot of work stress and was upset when the bank teller asked him how he would use the money.

“I am someone who has been dealing with a lot of things in the construction industry in the last nine months.

‘With little money left over from the downturn of the economy, I chose to stay true to my customers, I chose to lose money to keep my customers happy.

‘Though everything is slow, I paid all my contractors, I got paid and completed all my clients’ work at a loss.

‘So when I was asked the detailed question of what I was going to use my money for, I felt a little bad.’

‘I just want to clarify, I got the money I went there to get it. Teller of the Carnes Hill Commonwealth Bank, brilliant,’ he said.

‘If it wasn’t for them, if they were rude, the situation would have been much worse’.

Mr Dargham also responded to comments on social media that he should have lied to the bank teller when asked about the nature of the withdrawal.

“What I was trying to say, if I lie to you, obviously defeats the purpose of this stupid rule that’s supposed to protect me and my money,” he said. Told.

‘That’s my problem in this situation. I don’t see the need to be able to lie to them.’

Mr Dargham expressed his dismay in the first video, when he was forced to explain to a bank teller how he wanted to spend the money.

‘This is bull ****, this is absolutely ridiculous,’ he says in the video. ‘I am the account holder. You can see it clearly. If I want to pay someone, you can’t stop me.

Richard Dargham went to the Carnes Hill Marketplace in south-west Sydney to make a withdrawal when he visited a Commonwealth Bank on Thursday.

Richard Dargham went to the Carnes Hill Marketplace in south-west Sydney to make a withdrawal when he visited a Commonwealth Bank on Thursday.

‘You don’t need to know what I’m using my money for. I could use it for strip clubs, I could use it to buy drugs. This is not your strange work.’

Mr Dargham said the bank had flagged his account as potentially hacked by scammers due to the size of the withdrawal request.

He said that he handed over several identity documents to him to prove the holder of the account.

‘Keep in mind that I gave them a Medicare card, I gave them a driver’s license, I have a Medibank private card with them,’ says Mr. Dargham.

‘I gave them all kinds of IDs, like more IDs than what I need to go into a government building and become the Prime Minister of this country.

“Yet, they still wanted to know in detail what I wanted to do with my money,” he said.

‘Their explanation was that they were trying to stop me from being duped.’

Mr Dargham said he caused a ‘huge scene’ at the bank because he did not want to tell employees how he wanted to spend his money.

‘There’s a very strong chance that if you don’t tell them, they won’t give you your money,’ he explained.

‘I told them, I have to pay someone, and I said I have to pay an invoice.

Mr Dargham said he caused a 'huge scene' at the bank because he did not want to tell employees how he wanted to spend his money (stock image)

Mr Dargham said he caused a ‘huge scene’ at the bank because he did not want to tell employees how he wanted to spend his money (stock image)

‘ He said: ‘Do you have an invoice?’ And then I lost my mind.

‘I don’t know what has come into this world – it’s getting to the point where it’s getting ridiculous.

‘They want to know in precise detail what you are doing with your money now. Giving them a one sentence answer no longer works.

Last year, a Commonwealth Bank teller said it is standard practice for a bank to ask customers the reason for withdrawing large amounts of cash.

‘It is a duty of care to try to protect you from fraud or scammers,’ he wrote ozbargen Forum.

‘For example, an old man gets a call from Amazon that they mistakenly transferred $20,000 to him.

‘They instruct him to head the bank and withdraw funds to be deposited in another account.

‘The day the dreamer does not ask the man the reason for withdrawing money and hands over the money to him.

‘The old man is crying on the phone now because he gave $20,000 to some scammers. If Taylor had asked, which position would you prefer?’

Federal law also requires banks to report cash transactions of $10,000 or more to the financial regulator Australian Transaction Reporting and Analysis Centre.

'You don't need to know what I'm using my money for.  I could use it for strip clubs, I could use it to buy drugs.  It's not your strange thing', said Mr. Dargham

‘You don’t need to know what I’m using my money for. I could use it for strip clubs, I could use it to buy drugs. It’s not your strange thing’, said Mr. Dargham

Under the law, customers wishing to make withdrawals above the limit are required to provide identification.

Banks have been implementing the limit since 2011, in line with legislation to reduce the risk of abuse of the Australian banking system to support money laundering or terrorism financing activities.

A factsheet on the law states, ‘You will be required to provide information for all transactions that involve cash amounts of $10,000 or more.

A Commonwealth Bank spokesperson told Daily Mail Australia that the precautionary measures were put in place to protect customer bank accounts from potential scammers.

“We are always deeply concerned when we are exposed to fraud and scams affecting customers and the wider community,” the spokesperson said.

‘Despite the commitment and best efforts of regulators, law enforcement agencies and the banking industry, such frauds and scams are still tragic.

‘We review frauds and scams on a case-by-case basis, although it is widely recognized that scams are becoming increasingly sophisticated, requiring resources, systems to deal with scams and alert the Australian public. There has been an increase in investment in data and intelligence. The risks the community faces.

‘Customers need to be vigilant, protect their banking details and be smart about who they send money to.’

Laws require banks to collect information on cash transactions of $10,000 or more

Why is this necessary?

The Australian Government introduced Anti-Money Laundering/Counter Terrorism Financing (AML/CTF) legislation to help reduce the risk of abuse of the Australian banking system to support money laundering or terrorism financing activities.

AUSTRAC is the government regulator responsible for overseeing the compliance of financial institutions with this law.

AML/CTF law stipulates that all banks must comply with these reporting requirements. Collecting and reporting required information ensures that banks continue to comply with Australian law.

What does this mean for you?

When you do a transaction involving cash of $10,000 or more, employees are required to collect certain information from you.

To complete a transaction, you may be asked to provide personal information that may include identification (such as photo ID) that can provide evidence of who performed the transaction.

Do I need to provide information for all transactions?

Yes, you will need to provide information for all transactions that involve cash amounts of $10,000 or more (or foreign equivalent).

What happens if I do not provide the requested information?

If you do not have the requested information or do not wish to provide, the bank may decline the transaction. Banks understand that this can be frustrating for customers; However, the requirement to collect certain information is required by law.

Source: Australia Home Affairs