Gifted Deposit - Onerous checking - how necessary?

AnotherJoe

kingstreet wrote: »

As already mentioned earlier, donor bank statement for funds leaving, recipient bank statement for funds arriving and possibly donor ID.

Unfortunately, how we feel about this and large-scale/industrial money laundering is irrelevant as we're stuck with adherence to rules we design ourselves to meet the Act's requirements.

Fair enough, but if the statement shows those factors, why would someone not accept other transactions being redacted?



And if they wont, the way to redact them, though it has to be done in advance, is use a bank account that doesn't have all those transactions flowing through it. Most people have multiple accounts, choose the one with fewer day to day transactions. Perhaps a regular saver for example.

shortcrust

I don't get the fuss about stuff like this. It's like showing your private parts to a GP. They've seen thousands before, yours aren't special and they'll have forgotten all about you by the end of the day.

kingstreet

AnotherJoe wrote: »

Fair enough, but if the statement shows those factors, why would someone not accept other transactions being redacted?

<devilsadvocatemodeon>Because there is no way of knowing if the redacted information might have been helpful in the creation of an audit trail important to the investigation should one later take place?<devilsadvocatemodeoff>