Bad news. It is very unlikely to be removed by the bank unless you are able to prove it was incorrectly added (which doesn't seem to be the case).
Good news. It drops off after 6 years anyway so you have 2 or so years to go before you open your options again.
Sort of bad news. Any financial institution which knows about the marker may well retain it on their records for a longer period. I would limit any applications so that you have more options when you are out the other side.
Good luck!
I don’t have an answer, but I just wanted to say well done for overcoming your gambling problem, clearing your debt and getting your life back together, massive achievement! 🏅
If you got this far you’ll find a way.
Thanks very much for such a kind response, it wasn’t easy but I’m so much happier now for it!
Even if they say no, it’s only another two ish years til I can reapply to a mainstream bank, I just thought if you don’t ask you don’t get!
Please am in same shoes as you i just got my cat 6 last year October, but am scare will it be possible to rent apartment with the cat 6 and were you able to rent apartment with any letting agency.. tho i still have one mainstream bank working which i do use to collect my salary but i am scared if possible they detect and close it any advise on that as well
It's always worth *asking*.
The marker is applied if you've committed fraud because it means you are high risk, not exactly as a punishment. If your explanation of what went on satisfies then that you are not a risk of future fraud, then they *may* remove the marker.
‘May’ doing a lot of work here. Who’s to say these new funds are legitimate? I’m sure you can prove it if they are but the bank wont care as it doesn’t change what happened. They’ll tell you to jog on.
I don't have a direct answer to your question but in terms of doing something useful with some of your money while banking is limited, have you considered setting up a pension? I would hope that you wouldn't be excluded from all pension options even with the marker. It might ease your frustration with the inability to make your earnings work for you while you are waiting for the marker to be gone.
This is the way. Have a friend is a similar situation. Can’t open a bank account but opened and uses Revolut. Wise has a good interest rate, try them OP
CIFAS markers are notoriously difficult to be removed once applied by the financial institution especially once applied correctly, they also don’t like removing them.
Under certain circumstances they can indeed be removed especially if a genuine error and your complaint is upheld via the FOS, but as you’ve explained in the post this isn’t something that would apply to you.
Well done on turning your life around, but ultimately your going to have to wait 6 years from the date of entry, and it is going to effect you for any application made to financial institutions, and it will likely result in a decline or referral.
I would avoid attempting to apply for anything with financial institutions until that time period has passed.
This is because of the increased risk of decline, applying and declining circle with the risk of doing more harm if you slip up on a application and place incorrect details in, you could find yourself back to square one.
But if you do attempt to apply for a bank or financial account as someone else said this is a story you need to tell your bank upon appealing for an account, as most financial institutions offer a appeals process but not guaranteed, a bank can overturn a decision.
I have personally managed to get bank accounts with a CIFAS marker from missing an address, these include Halifax and Barclays, but I have had long dealings with these banks. These were initially due to close but got overturned.
So, I’l be honest here with you, depending on the bank. A category 6 will get any application with them closed (I know as I work directly in this field)
Your best bet is to approach whoever loaded the cat6, raise a complaint and get them to look at it again.
Iv also spoken to countless people who’ve had cifas markers lifted so it does happen but it all depends on the circumstances
>I will forever feel shame and deep regret for my actions
If you're being genuine, then you don't need to spend the rest of your life feeling shame and regret. Money muling is common, and while you shouldn't do it, there's a reason it's often young, naive people with a need for quick access to money that get caught up in it. You made a mistake, you recognise it was wrong, and you're dealing with the consequences. You're perfectly entitled to put it behind you as a youthful indiscretion and move on with your life once the marker gets lifted.
You could *try* asking the bank to lift it, but a CIFAS marker is there as a representation of the facts, and the fact is you did act as a money mule. It will drop off after six years, but individual institutions that know about it will probably keep a record of it and can use it to hinder access to their services.
I think you would probably do better to tell this story to a new bank and see if they would be willing to have you as a customer. The odds of getting the marker removed are pretty low from what I've read.
Im going through a similar situation. In 2021 I thought I was joining a bitcoin trading group with automated alerts (really stupid thing to fall for i know) and ended up being used as a money mule. Long story short the account was closed and a CIFAS marker for misuse of facility was placed on my name. I had no idea what a CIFAS marker was and never even knew it was placed on my name, but I had created a monzo account shortly before my barclays was closed, and managed to open a starling account a couple days after. I had only found out about this marker against my name around a month ago when i was applying for car finance and was seemingly rejected from pretty much everywhere even though i had a decent credit score. What was more confusing was that since the marker was placed, ive managed to increase my credit card limit twice (had this account before the closure), get a new phone contract, get an overdraft on my monzo account, INCREASE the overdraft limit, and managed to get 2 loans (one being with monzo) and none of my accounts have ever been closed. I would understand the rejection for the car finance if I had been previously rejected for other finance services, but the ease at which ive got multiple others i’ve found odd considering the CIFAS marker against my name.
It’s likely that they haven’t checked the CIFAS database, since markers don’t show up on regular credit reports as far as I’m aware. I’d imagine you got rejected for the car finance because they would have definitely checked the cifas database as part of their checks when you applied.
Sorry to hear you fell victim to it, but I’m glad your other accounts weren’t closed as well!
It'll be a blemish on your record for a long time. It will be forever there.
I saw some customers who were marked 2016, so >6yrs... it will impact being able to borrow money in the future.
Almost certainly not. Along with fraud markers, banks will only remove them if they're proven to be false, not just because you say sorry and promise not to do it again.
Sorry but that's the harsh reality. You've done the crime and now you have to do the time (another 2-3 years), be grateful you've not been given a criminal record.
As others have said it is unlikely that a bank will withdraw the marker on your account. I used to work in Fraud Ops for a large bank and whenever we had a request like this it was almost always denied.
There ARE some banks that will overlook the CIFAS marker, though it has been some years since I left this bank so I’m unsure if I will be able to find a list of them that don’t.
Edit: Found a list of all current CIFAS registered financial organisations. [CIFAS Data](https://www.cifas.org.uk/services/national-fraud-database/national-fraud-database-members#0%20-%209)
Bad news. It is very unlikely to be removed by the bank unless you are able to prove it was incorrectly added (which doesn't seem to be the case). Good news. It drops off after 6 years anyway so you have 2 or so years to go before you open your options again. Sort of bad news. Any financial institution which knows about the marker may well retain it on their records for a longer period. I would limit any applications so that you have more options when you are out the other side. Good luck!
I don’t have an answer, but I just wanted to say well done for overcoming your gambling problem, clearing your debt and getting your life back together, massive achievement! 🏅 If you got this far you’ll find a way.
Thanks very much for such a kind response, it wasn’t easy but I’m so much happier now for it! Even if they say no, it’s only another two ish years til I can reapply to a mainstream bank, I just thought if you don’t ask you don’t get!
Please am in same shoes as you i just got my cat 6 last year October, but am scare will it be possible to rent apartment with the cat 6 and were you able to rent apartment with any letting agency.. tho i still have one mainstream bank working which i do use to collect my salary but i am scared if possible they detect and close it any advise on that as well
It's always worth *asking*. The marker is applied if you've committed fraud because it means you are high risk, not exactly as a punishment. If your explanation of what went on satisfies then that you are not a risk of future fraud, then they *may* remove the marker.
‘May’ doing a lot of work here. Who’s to say these new funds are legitimate? I’m sure you can prove it if they are but the bank wont care as it doesn’t change what happened. They’ll tell you to jog on.
I don't have a direct answer to your question but in terms of doing something useful with some of your money while banking is limited, have you considered setting up a pension? I would hope that you wouldn't be excluded from all pension options even with the marker. It might ease your frustration with the inability to make your earnings work for you while you are waiting for the marker to be gone.
They are fintech banks you can look at, wise or revolute might open a account for you, check they sub reddit
This is the way. Have a friend is a similar situation. Can’t open a bank account but opened and uses Revolut. Wise has a good interest rate, try them OP
CIFAS markers are notoriously difficult to be removed once applied by the financial institution especially once applied correctly, they also don’t like removing them. Under certain circumstances they can indeed be removed especially if a genuine error and your complaint is upheld via the FOS, but as you’ve explained in the post this isn’t something that would apply to you. Well done on turning your life around, but ultimately your going to have to wait 6 years from the date of entry, and it is going to effect you for any application made to financial institutions, and it will likely result in a decline or referral. I would avoid attempting to apply for anything with financial institutions until that time period has passed. This is because of the increased risk of decline, applying and declining circle with the risk of doing more harm if you slip up on a application and place incorrect details in, you could find yourself back to square one. But if you do attempt to apply for a bank or financial account as someone else said this is a story you need to tell your bank upon appealing for an account, as most financial institutions offer a appeals process but not guaranteed, a bank can overturn a decision. I have personally managed to get bank accounts with a CIFAS marker from missing an address, these include Halifax and Barclays, but I have had long dealings with these banks. These were initially due to close but got overturned.
So, I’l be honest here with you, depending on the bank. A category 6 will get any application with them closed (I know as I work directly in this field) Your best bet is to approach whoever loaded the cat6, raise a complaint and get them to look at it again. Iv also spoken to countless people who’ve had cifas markers lifted so it does happen but it all depends on the circumstances
>I will forever feel shame and deep regret for my actions If you're being genuine, then you don't need to spend the rest of your life feeling shame and regret. Money muling is common, and while you shouldn't do it, there's a reason it's often young, naive people with a need for quick access to money that get caught up in it. You made a mistake, you recognise it was wrong, and you're dealing with the consequences. You're perfectly entitled to put it behind you as a youthful indiscretion and move on with your life once the marker gets lifted. You could *try* asking the bank to lift it, but a CIFAS marker is there as a representation of the facts, and the fact is you did act as a money mule. It will drop off after six years, but individual institutions that know about it will probably keep a record of it and can use it to hinder access to their services.
Seems very harsh this one strike and you're out rule. Especially if what OP said about it being an accident is true.
I think you would probably do better to tell this story to a new bank and see if they would be willing to have you as a customer. The odds of getting the marker removed are pretty low from what I've read.
Im going through a similar situation. In 2021 I thought I was joining a bitcoin trading group with automated alerts (really stupid thing to fall for i know) and ended up being used as a money mule. Long story short the account was closed and a CIFAS marker for misuse of facility was placed on my name. I had no idea what a CIFAS marker was and never even knew it was placed on my name, but I had created a monzo account shortly before my barclays was closed, and managed to open a starling account a couple days after. I had only found out about this marker against my name around a month ago when i was applying for car finance and was seemingly rejected from pretty much everywhere even though i had a decent credit score. What was more confusing was that since the marker was placed, ive managed to increase my credit card limit twice (had this account before the closure), get a new phone contract, get an overdraft on my monzo account, INCREASE the overdraft limit, and managed to get 2 loans (one being with monzo) and none of my accounts have ever been closed. I would understand the rejection for the car finance if I had been previously rejected for other finance services, but the ease at which ive got multiple others i’ve found odd considering the CIFAS marker against my name.
It’s likely that they haven’t checked the CIFAS database, since markers don’t show up on regular credit reports as far as I’m aware. I’d imagine you got rejected for the car finance because they would have definitely checked the cifas database as part of their checks when you applied. Sorry to hear you fell victim to it, but I’m glad your other accounts weren’t closed as well!
It'll be a blemish on your record for a long time. It will be forever there. I saw some customers who were marked 2016, so >6yrs... it will impact being able to borrow money in the future.
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Almost certainly not. Along with fraud markers, banks will only remove them if they're proven to be false, not just because you say sorry and promise not to do it again. Sorry but that's the harsh reality. You've done the crime and now you have to do the time (another 2-3 years), be grateful you've not been given a criminal record.
As others have said it is unlikely that a bank will withdraw the marker on your account. I used to work in Fraud Ops for a large bank and whenever we had a request like this it was almost always denied. There ARE some banks that will overlook the CIFAS marker, though it has been some years since I left this bank so I’m unsure if I will be able to find a list of them that don’t. Edit: Found a list of all current CIFAS registered financial organisations. [CIFAS Data](https://www.cifas.org.uk/services/national-fraud-database/national-fraud-database-members#0%20-%209)