Why do the Halifax want to know where my money is from?

regularsaver1

really chica I've never seen that

C_Ronaldo

I ws a similar question in tyhe co op when i payed in a small amount something like £150-£200, when ive payed money into my rbs account they dont ask me where its from

jonesMUFCforever

Somerset wrote: »

Curious about something

I transferred online large sum of money into my Lloyds account - no questions.
I submitted a large bacs transfer request ( to solicitors ) by hand to Lloyds - I was quizzed by staff - why, what for etc.
I received large sum of money from solicitors into my Lloyds account (bacs ) - No questions.
I transferred this large sum from Lloyds to ING by d/d - no questions from either Lloyds or INg.

So the only time I was asked anything, was when I was physically in the bank talking to a Lloyds member of staff. No phone calls on my machine re the other transactions.

So either a) online transactions aren't verified by the banks or b) these transactions are automatically 'reported' as suspicious by the banks without recourse to a customer explanation. Which is it ?

Waiting now for a swat team to kick down my front door !!!!

How do you know that the transactions were not checked out?

Somerset

ejones999 wrote: »

How do you know that the transactions were not checked out?

Because they didn't talk to me. I'm sure they could have back tracked ie 'that's a firm of solicitors' but I doubt they would waste their resources ( which cost ) - if they did, fine. The most cost effective way of checking would be to ask - but they didn't.

dunstonh

If you are evasive to the person asking the questions, such as telling them to mind their own business, then you will almost certainly be reported as a money laundering suspicion.

You may never know if you have been investigated but you will be drawing attention to yourself.

jonesMUFCforever

Somerset wrote: »

Because they didn't talk to me. I'm sure they could have back tracked ie 'that's a firm of solicitors' but I doubt they would waste their resources ( which cost ) - if they did, fine. The most cost effective way of checking would be to ask - but they didn't.

You would never know if you have been investigated or not!
Staff reporting face to face suspicions are never told the outcome of an investigation.
The first we hear of them is when they are on the news being sentanced!

dunstonh

ejones999 wrote: »

You would never know if you have been investigated or not!
Staff reporting face to face suspicions are never told the outcome of an investigation.
The first we hear of them is when they are on the news being sentanced!

We had a case many years ago where someone was reported. He gave the impression he was a private car dealer so cash handling wasnt unusual. However, he used to pay the cash into his credit card which is unusual. He was reported. About 8 months later, the police asked to come into the branch and pretend to be staff. They knicked him as he was paying the money in. Nobody knew anything after the initial report until the police wanted to catch him red handed. It wasnt money laundering in his case but tax evasion.

debbie42

If you are asked about the money, then it's fair enough to quiz the person asking as to why they need to know, surely? Not every one is aware of money laundering regulations.

I was asked as to where I'd got my savings from when opening a share dealing account. This was as part of a credit check, before I'd deposited any funds whatsoever. Would this be part of money laundering checks?

Somerset

ejones999 wrote: »

You would never know if you have been investigated or not!
Staff reporting face to face suspicions are never told the outcome of an investigation.
The first we hear of them is when they are on the news being sentanced!

You missed the point. The face to face transaction was satisfactorally answered ( paperwork shown ). My question was about the lack of questioning about the on-line transactions.

regularsaver1

Somerset wrote: »

Because they didn't talk to me. I'm sure they could have back tracked ie 'that's a firm of solicitors' but I doubt they would waste their resources ( which cost ) - if they did, fine. The most cost effective way of checking would be to ask - but they didn't.

and tipping off is a criminal offence - as by informing someone they are being investigated

asking questions is procedure though