Absolutely FUMING with Abbey

wymondham

noh wrote: »

Thats not the case.

A genuine person may be offended
A crook may lie

The point of asking the question is that the answer given and the way in which it is given could be used as an indication of suspicious activity.

Nigel

Do you really think the average cashier staff can tell if they are dealing with a competent crook ?

noh

wymondham wrote: »

Do you really think the average cashier staff can tell if they are dealing with a competent crook ?

No but whats your point?

wymondham

noh wrote: »

No but whats your point?

Why ask them to ask/check etc if there is not much chance they can spot it?

Seems only sensible to ask someone to do something if it's a realistic expectation. Maybe people should be rigged up to lie detectors when they ask to make a withdrawl ? :rolleyes:

noh

Its the incompetent ones who are caught with this question and investigation may lead to identification of others.

Seems only sensible to ask someone to do something if it's a realistic expectation.

I believe there is a realistic expectation that the answer to this question could give rise to suspicion.

Nigel

wymondham

noh wrote: »

I believe there is a realistic expectation that the answer to this question could give rise to suspicion.

It would also give a lot of false positives as people get caught unaware with the question and hesitate with an answer - purely because it really is none of their business how they choose to spend their own money.

It easier to get around these days I think anyway as any crook would look for the long line (common now as fewer counter staff) and go in front of the person who's in a hurry/obviously on their lunch break...

dunstonh

No one has still answered the question what has "what do you want the money for" has to do with security.

Its nothing to do with security. Its money laundering checking.

Lets say for example i say i'm going to buy some smack with it. What is the bank going to do about that?

Report you to the MLRO who in turn will liase with the SFO.

So what you are saying it's now the banks job to be a first line police force.

No. However, many have attributed the rules as the Govt making financial institutions part time tax investigators (I'm guessing here but I suspect that far more tax evasion is reported than money laundering. My only two reports have been for tax evasion).

overlander-couldnt agree more with your last comment. Funnily, none of the bank employees were able to answer why you dont get the same line of questioning when you make transfers over the internet/phone??

There is an audit trail with transfers and bill payments.

What is the point of asking the person what they will use the money for.

A genuine person will be offended

A crook will lie

who gains?

Most genuine people have no problem with it. A crook may lie but chances are a crook wont be doing it just once. So, if lots of withdrawals have the same purpose then asking the questions has worked as it identifies a potential issue.

Anyone evasive will usually end up being reported. A lot of the time you wouldnt even know if you have been investigated.

Why ask them to ask/check etc if there is not much chance they can spot it?

You are focusing on just one member of staff. We all have the same rules to follow. There is a lot of training given on money laundering rules and requirements. You are also focusing on major crime and to be honest, the cashier is more likely to spot benefit fraud and tax evasion. That all falls under ML rules.

Somerset

dunstonh wrote: »

Most genuine people have no problem with it.

I th ink, if nothing else, this thread demonstrates a lot of genuine people do have a problem with it. This thread was started by one

noh

Somerset wrote: »

dunstonh wrote: »

Most genuine people have no problem with it. /quote]

I think, if nothing else, this thread demonstrates a lot of genuine people do have a problem with it. In fact the thread was started by one

The key word is most.
This thread demonstrates that a few people have a problem with the question being asked.

Nigel

gatita

tomm wrote: »

Gatita You Are A Stuck Up Muppet
I Really Hate It When People Say "its My Money" We All Know That
Yes Its Your Money, But If You Dont Like The Rules - Pi$$ Off Elsewhere!

The only muppet here is YOU tomm and a very rude one at that

wymondham

I think that most people would be surprised and taken aback if asked what they intended to do with their money. People on here are financially savvy and mostly in the know hence they see the other side and know the aparent reasons for it, but Joe public (me included) would I think on the whole, see it differently.

I appreciate that it's a see-saw effect of protection and freedom, but I don't think the reasons I've seen so far for asking the question give a clear justification for asking asking it, and the benefits from it. If I can't see it, then possibly other members of the public would also not see it??

If showing ID is not enough, giving proof of who you are, then surely there is something wrong with the system?

If asked the question I must admit I would not supply the info, so would presumably be investigated each time - seems a bit of a waste of resources given their systems would have flagged me incorrectly for suspicion? (I assure you I'm not a crook by the way!)