Is this bank money-making scheme or just life in money-laundering reality ?

irishwench69

Hi Somerset,

**Totally** off-topic, but is that your dog in your avatar? Soooooooo cute....

x

Somerset

irishwench69 wrote:

Hi Somerset,

**Totally** off-topic, but is that your dog in your avatar? Soooooooo cute....

x

yes. she.s my baby............. or maybe I'm her's lol.

irishwench69

Somerset wrote:

yes. she.s my baby............. or maybe I'm her's lol.

God - wishing I didn't live in a flat right now - would totally *love* a dog just like that, but just not possible while living where I am

Hope you get the situation sorted anyway - if it's any consolation (probably not ), I had a similar thing with Nationwide - guess they're all as bad as each other :rolleyes:

x

dexters_mum_2

When we remortgaged our house we were also closing our account with HSBC at the same time. We had to withdraw (as they wouldn't let us do an automated transfer like BACS/Chaps) £14,000 to put into our Lloyds TSB savings, Lloyds wanted to know where the money had come from and we had to provide ID. I'd rather they did this and spend a few moments asking the right questions rather than anyone get accused of money laundering or fraud etc. I was warned that someone from the branch may telephone me and ask if they could see proof of where funds came from but as I see it, if I've done nothing wrong and I have nothing to hide, then I'm OK with it.
Good luck with your purchase!

Somerset

Thanks dexters mum

I'm going to forget about it. I don't like being quizzed about my business but it seems to be the way the world is now so ..... time to forget it.

Thanks to everyone for their opinions.

Turning_into_scrooge

Somerset wrote:

yes. she.s my baby............. or maybe I'm her's lol.

Shes beautiful, what breed is she? Mines a Lhasa apsos, a teddy bear on legs :rotfl:

Thriftylady

ejones999 wrote:

It is because if you were a money launderer and the bank employee had not asked the relevant questions, the bank employee could face a prison sentence, fine and the loss of their job.
I would not take chances - if you did not provide id and I was not happy with your explaination about the transaction I would report you to my line manager who would probably flag it up to the money laundering team.
Result - your transaction would be delayed or cancelled.
If you don't want to be asked about your business keep your money under the bed.

its interesting how the different banks view this. Where I work, we wouldn't be allowed to hold up a customers transactions for this reason, as this would alert them to the fact that they were under investigation, which is also an offence. There is a certain element of being damned if you do and damned if you don't here.....

Somerset

Turning into scrooge

She's a weimaraner.

http://www.weimaranerclubofgreatbritain.org.uk/

moooooo

Somerset, it's really simple, bank staff have a duty of care to the customer first of all to make sure that the person in front of them is who they say they are. If someone else was spending your money cos the bank didn't check you'd be WAY more angry. Staff then have a duty of care to the bank to make sure that all bank processes are observed and that the bank cannot be liable for any mistakes. The staff then have a LEGAL OBLIGATION to find out what the money is being used for. This was introduced after 9/11 to try and catch people who were using bank accounts to fund terrorism etc.

At the end of the day, how hard was it to tell the bank what you were buying? The bank isn't the enemy, it isn't just being nosy, and, it is doing what is legally required. The bank catches people out when they give vague answers or can't prove where funds have come from.