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    • Shawn512
    • By Shawn512 16th Apr 18, 5:27 PM
    • 2Posts
    • 0Thanks
    Source of wealth documentation?
    • #1
    • 16th Apr 18, 5:27 PM
    Source of wealth documentation? 16th Apr 18 at 5:27 PM
    I live abroad. I rent a cheap flat in a very cheap country. Over here there are very low cost airlines to travel to other cheap countries.

    I keep afloat by selling handicrafts. Although I used to have a business here exporting handicrafts.

    A couple of decades ago I had a good job on the European continent. I still have savings from that time.

    Now I'm being asked for my "source of wealth" documentation by a UK institution (not a bank) who I have my remaining money invested with (it isn't that much, but a lot for me.)

    (1) If I level with them and explain the source of my savings are from working 2 decades ago I guess I have to produce documents I don't have. The bank I was with dropped me because I no longer had enough money.

    (2) Or, I could just give them pay slips (dated these recent months) from the old business I had where I live - the company is actually still alive. Then, if they challenge me to show a link between that money and their institution I can explain (1) to them.

    They aren't allowing me to get any of my money. I was using the money I had with them, every 3-6 months, for cash injections. I will have a tough time ahead. Not sure how I'll survive.

    Any suggestions or knowledge of this kind of thing?
Page 1
    • MarcoM
    • By MarcoM 17th Apr 18, 4:12 PM
    • 537 Posts
    • 74 Thanks
    • #2
    • 17th Apr 18, 4:12 PM
    • #2
    • 17th Apr 18, 4:12 PM
    uk = banana republic.
    with regards to money laundering one is presumed guilty till proven innocent. This is because the government is not able to catch the relatively few bad apples so they take a scatter gun approach.

    was there any particular transaction which led to your account being frozen?
    • Shawn512
    • By Shawn512 22nd Apr 18, 3:32 AM
    • 2 Posts
    • 0 Thanks
    • #3
    • 22nd Apr 18, 3:32 AM
    • #3
    • 22nd Apr 18, 3:32 AM
    I found my old bank statements. It is shocking to think you could lose your money if you don't keep decades old paper records.

    There was no transaction that led to this problem. They are checking everyone.
    • eskbanker
    • By eskbanker 22nd Apr 18, 11:32 AM
    • 9,422 Posts
    • 11,052 Thanks
    • #4
    • 22nd Apr 18, 11:32 AM
    • #4
    • 22nd Apr 18, 11:32 AM
    Perhaps your warning might be more useful if you shared more detail, and in particular who the "UK institution (not a bank)" is?
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