Banks and money laundering

diablo676

My cousin is selling a flat in Egypt for about £22,000 but doesn't have a bank account. She asked if it could be paid into my account.

I have an account with Santander and have had several larger amounts paid in without problems. Will they accept a payment from Egypt without causing fuss? Anyone know.

101problems

If santander pay any information to the home office advice then yes it will set several alarm bells off
https://www.gov.uk/government/publications/financial-sanctions-egypt

worriedindebt

Isn't Egypt a sanctioned country? If so you will poss have problems. Doesn't sound a good thing to do though if you don't mind me saying.. I'd advise your sister to open her own account tbh

marleyboy

Of course some may wonder how anyone could own a £22k flat in Egypt who has NO bank account.

Putting this oddity aside for the moment, I think its anything over £4k in cash, and lots of alarm bells will be ringing.

PeacefulWaters

marleyboy wrote: »

Of course some may wonder how anyone could own a £22k flat in Egypt who has NO bank account.

Putting this oddity aside for the moment, I think its anything over £4k in cash, and lots of alarm bells will be ringing.

You're guessing.

diablo676

Thanks for the quick replies. It seems she has a problem.

marleyboy wrote: »

Of course some may wonder how anyone could own a £22k flat in Egypt who has NO bank account.

Putting this oddity aside for the moment, I think its anything over £4k in cash, and lots of alarm bells will be ringing.

Her robbing !!!!!phile ex-husband left her with lots of debts. She should have declared herself bankrupt years ago but is only doing so now. She only has a basic post office account where her pension is paid.

As she only has a state pension she wants to keep this money out of view. That is probably illegal I know.

Archi_Bald

diablo676 wrote: »

As she only has a state pension she wants to keep this money out of view. That is probably illegal I know.

Not declaring all her assets in a bankruptcy case is certainly illegal.

If she wants to claim benefits, hiding money will count as deprivation of assets.

pmduk

If she's looking to hide her assets then don't do anything to assist without assessing the likely repercussions on you. Personally I wouldn't get involved at all, she might be family, but shouldn't risk getting you involved.

planteria

PeacefulWaters wrote: »

You're guessing.

do you know PW, or do you think there's no rule? i have deposit 4 or 5k a couple of times recently, and as far as i know there have been no alarms bell ringing anywhere.

and does it matter too much, as long as there is nothing untoward going on?

diablo676

pmduk wrote: »

If she's looking to hide her assets then don't do anything to assist without assessing the likely repercussions on you. Personally I wouldn't get involved at all, she might be family, but shouldn't risk getting you involved.

I think I will avoid getting involved. I'd be no good at lying that I 'knew nothing' to a judge in a courtroom.

Such a shame she didn't do the bankruptcy thing years ago then everything would be fine and dandy by now.

I've lent her money and she wants more for airfares and fees to settle things in Egypt before the payment gets paid. So I think I've done enough. Even if I don't get the £6k back for some reason it won't bother me. Though 28 days in jail for accessory to fraud wouldn't appeal at all ! :rotfl:

diablo676

101problems wrote: »

If santander pay any information to the home office advice then yes it will set several alarm bells off
https://www.gov.uk/government/publications/financial-sanctions-egypt

Well she isn't on the list of designated persons I'm sure. I reckon that foreigners buy and sell property in Egypt regularly so I'm assuming she will be able to get the money out.

Though I have decided it won't come into my account.

I suppose she could smuggle it through to the UK, though if she gets paid in Egyptian pounds (LE) then I dunno how big the bundles would be.