Deposit from overseas which inherited from mum

SmashedAvacado

Moving money in breach of exchange controls is likely to constitute money laundering and the solicitor, if they are at all competent ought to report it. They won't tell you that they are reporting it - as if they do tell you they will be liable for tipping off. Asking an Internet forum for help in committing a money laundering offence is not the best thing to be doing.

kdotdotdotdot

If the money was legally earned and legally inherited then it's not money laundering. The problem here is with the rules of the bank in Bangladesh which doesn't allow international transfers and the OP is trying to get around that. This is the bit that seems to be illegal, but only illegal in Bangladesh, not the UK.

My feeling is letting a bunch of strangers transfer money to you is a sure-fire recipe for losing all your money as well as apparently illegal. Better to see if you can open another account in Bangladesh that does allow you to transfer funds (try one of the international banks who also have branches in the UK such as HSBC).

hazyjo

kdotdotdotdot wrote: »

If the money was legally earned and legally inherited then it's not money laundering. The problem here is with the rules of the bank in Bangladesh which doesn't allow international transfers and the OP is trying to get around that. This is the bit that seems to be illegal, but only illegal in Bangladesh, not the UK.

My feeling is letting a bunch of strangers transfer money to you is a sure-fire recipe for losing all your money as well as apparently illegal. Better to see if you can open another account in Bangladesh that does allow you to transfer funds (try one of the international banks who also have branches in the UK such as HSBC).

Nobody's insinuating it's money laundering, they're saying all money being used to buy property will be subject to money laundering investigations.


No, it's not the rules of the bank in Bangladesh, it's the rules of the entire country of Bangladesh.


Hence the problem - they cannot legally transfer the money from Bangladesh to the UK. They can ask for permission, but I would expect it to be refused.

GDB2222

kdotdotdotdot wrote: »

If the money was legally earned and legally inherited then it's not money laundering. The problem here is with the rules of the bank in Bangladesh which doesn't allow international transfers and the OP is trying to get around that. This is the bit that seems to be illegal, but only illegal in Bangladesh, not the UK.

My feeling is letting a bunch of strangers transfer money to you is a sure-fire recipe for losing all your money as well as apparently illegal. Better to see if you can open another account in Bangladesh that does allow you to transfer funds (try one of the international banks who also have branches in the UK such as HSBC).

I am not, by any means, an expert on the anti money laundering rules. However, if the money is illegally exported from Bangladesh, then that is a crime, and the money once it is over here is the proceeds of that crime. Washing it into a legally owned property is then, indeed, money laundering.

masud0174

Yes, I will use it for deposit.

Thrugelmir

davidmcn wrote: »

Like I said, you may well not. If it's been sitting in your account for long enough it's going to be deemed to be your money.

Depending on the household income. £40k maybe a sizable amount of savings to have accumulated.

masud0174

warby68 wrote: »

OP, you are asking for advice on how to achieve something illegal and then disguise the illegality.

This site is a bit more reputable than that (I hope)

Please note that my money is not illegal, and I am not trying to do anything illegal.

There are restrictions in Bangladesh about sending money overseas.

Therefore, I am looking for advice before bringing money in the UK.

masud0174

hazyjo wrote: »

From toniq's link, it seems you can at least ask Bangladesh Bank [Central Bank].


Obviously they may watch you like a hawk after if they say no.

There are central bank's rules that sending money out of the country is 100% restricted.

masud0174

Thrugelmir wrote: »

You'll be asked to provide evidence of the source. That's the bottom line.

As an evidence, i can provide my Bangaldeshi bank account statement which will show the fund is available.

[Deleted User]

masud0174 wrote: »

Please note that my money is not illegal, and I am not trying to do anything illegal.

There are restrictions in Bangladesh about sending money overseas.

Therefore, I am looking for advice before bringing money in the UK.

Aren't you trying to do something illegal though if there isn't a legal means of getting the money out of Bangladesh to the UK via money mules?

Is there no way to ask the Central Bank for permission to transfer the money outside of Bangladesh? What if you had a non resident Taka account in Bangladesh.

https://bhclondon.org.uk/remittance-non-resident-bangladeshis