Lloyds Crypto Money Lending Confusion CIFAS Marker Removal
Crypto money lending confusion — Misuse of Facility marker filed by Lloyds. Removed in 2 weeks.
How Lloyds files CIFAS markers for crypto lending activity
Our client was involved in informal crypto lending — lending money to contacts who used it for cryptocurrency purchases, with the contacts repaying the loan with interest. The payments through the client's Lloyds account — incoming repayments and outgoing loans — were flagged as suspicious. Lloyds filed a Misuse of Facility marker, treating the lending activity as fraud.
What the CIFAS report showed about this Lloyds marker
The report confirmed Misuse of Facility filed by Lloyds Bank PLC. Our OCR analysis showed the filing was based on the pattern of incoming and outgoing payments. The report did not consider whether the activity was legitimate informal lending.
How we challenged this Lloyds crypto lending CIFAS marker
The complaint explained the informal lending arrangement and demonstrated that the payments were loan repayments, not proceeds of fraud. The system argued that Lloyds had confused a legitimate financial activity with suspicious conduct and cited UK GDPR accuracy requirements.
How this Lloyds crypto lending CIFAS marker was removed
Lloyds reviewed the lending evidence and removed the marker within two weeks.
Start your crypto lending CIFAS marker removal
If informal lending activity was confused with fraud and a CIFAS marker was filed, the marker may be challengeable. Upload your CIFAS report and start your case today.