How much do you think of as money laundering?

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  • karlie88
    karlie88 Posts: 9,114 Forumite
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    In answer to OP's question, I'd consider anything above £34.78 as laundered money.



    In future, ask your husband to do this with the £100 before depositing it:


    blog_gambling.jpg
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • stehouk
    stehouk Posts: 412 Forumite
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    I use the ATM machine's when depositing into another person's account, in fact counter staff will tell you that you can do it that way.
  • brianposter
    brianposter Posts: 1,290 Forumite
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    Is this one of those daft regulations which we will be able to get rid of after Brexit ?
  • RG2015
    RG2015 Posts: 5,900 Forumite
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    brianposter wrote: »
    Is this one of those daft regulations which we will be able to get rid of after Brexit ?
    Yes, of course. Money laundering in the UK will cease as soon as we are out!
  • jeanmd
    jeanmd Posts: 2,361 Forumite
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    edited 12 October 2018 at 4:53PM
    stehouk wrote: »
    I use the ATM machine's when depositing into another person's account, in fact counter staff will tell you that you can do it that way.

    Not possible without a bank card and he's not having my bank card or if it is then it's something he wouldn't do. :D
    £2021 in 2021 no.17 £1,093.20/£2021
  • Uxb
    Uxb Posts: 1,340 Forumite
    If you run a business community/social account (where there will be no bank card usually) then I've had letters from different banks saying no cash deposits are permitted without the accompanying pre-printed paying in slips for the account.
  • brianposter
    brianposter Posts: 1,290 Forumite
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    RG2015 wrote: »
    Yes, of course. Money laundering in the UK will cease as soon as we are out!
    Refusing to accept cash deposits is a pretty stupid way to try to stop money laundering. Far more effective to ensure that accounts which look as though they might be being used for ML get investigated.
    It looks like it is a regulation which has been invented on the continent to deal with problems in some latin countries.
  • RG2015
    RG2015 Posts: 5,900 Forumite
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    brianposter wrote: »
    Refusing to accept cash deposits is a pretty stupid way to try to stop money laundering. Far more effective to ensure that accounts which look as though they might be being used for ML get investigated.
    It looks like it is a regulation which has been invented on the continent to deal with problems in some latin countries.
    I am pretty sure that the EU doesn't have the monopoly on insane rules and regulations. Even after Brexit I am sure we will still be producing ridiculous home grown rules that can compete with anything outside of the UK.
  • OceanSound
    OceanSound Posts: 1,482 Forumite
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    edited 13 October 2018 at 8:25AM
    Ergates wrote: »
    One of the techniques used in money laundering is to break the laundered money up into lots of little bits and spread it around.

    Womeone walking into a bank with a £50,000 in used notes looks a lot more suspicious than a bunch of different people (or the same person over several days) walking in with £100.
    I always wondered how come there are such huge queues at bank branches. Must have been all these people laundering money paying in £100 at a time.
    Since these new rules came in to place, the queues have disappeared, but so have the bank branches. Good heavens, couldn't make it up.
  • OceanSound
    OceanSound Posts: 1,482 Forumite
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    colsten wrote: »
    Yet again the law-abiding majority suffers because of some scumbag criminal minority. A bit akin of millions of peaceful people having to live with restrictions (e.g. airport security checks, road barriers, metal detectors in public buildings etc) so we can protect ourselves from raving lunatic terrorists and other madmen.
    An elderly person going in to a bank to deposit 100 pounds to his wife's account is clearly laundering money;) (nothing to do with banks not wanting to handle cash)
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