A friend transferred some money out of his bank account to an etrade account as he thinks he will lose his job in a couple of months, and wanted less than £6,000 in the account, but worries that housing benefit and DWP will do data matching or go into his accounts and see the transaction and then look into the etrade account (which isn't trading at the moment). Will they notice the money being sent out, do they monitor transactions three months before and do data matching? Does the DWP employ credit reference agencies who pick up on these transactions and etrade accounts?
He's thinking of closing this bank account and opening another one in another bank. To stop this transaction being fund for £6,000 out of account. Obviously, he will get contribution based benefits after working for four years.