Timeline for How to deal with a relative's hoarded cash without being accused of money laundering
Current License: CC BY-SA 4.0
11 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Sep 21, 2020 at 8:04 | comment | added | Adam Barnes | @SpehroPefhany I certainly don't, and if I did, it'd be much easier for Her Majesty's finest to take it from me if it was in a bank than if it was in my house. | |
| Sep 19, 2020 at 17:20 | history | edited | Fattie | CC BY-SA 4.0 |
added 51 characters in body
|
| Sep 19, 2020 at 5:19 | comment | added | Spehro 'speff' Pefhany | I guess you don't need to worry about 'civil forfeiture' in the UK? | |
| Sep 19, 2020 at 2:41 | comment | added | Anton Sherwood | @AdamBarnes Something must be done with the cash because soon it won't be possible to spend it, if I understood OP correctly. | |
| Sep 18, 2020 at 23:46 | comment | added | JonathanReez | I would also add that the bank doesn't really care (nor has the authority to verify) if you're a criminal or an average Joe who's hoarding cash. Their only job is to get you to fill out a form and then forward it to the government. What they do with this information is up to them, but for merely 30k they're extremely unlikely to bother. | |
| Sep 18, 2020 at 22:22 | comment | added | Adam Barnes | "In your situation you MUST take the cash to deposit it" what's wrong with keeping cash out of the banks? | |
| Sep 18, 2020 at 21:02 | comment | added | Bradley Uffner | Yeah, sure, "Antiques".... That's just what someone planning to buy large quantities of illicit squirrels would say. | |
| Sep 18, 2020 at 19:30 | comment | added | alephzero | Buying expensive antiques for cash seems like an excellent way to launder money, especially if they are small enough to carry around unnoticed (e.g. jewellery rather than furniture) | |
| Sep 18, 2020 at 15:58 | comment | added | Fattie | Hi @GS-ApologisetoMonica - I'll definitely look for that in other answers, I'd be interested too. Unfortunately (like many QA on this site) the answer is experiential, ie a judgement call, based on experience, of how likely it is. Unfortunately! | |
| Sep 18, 2020 at 15:56 | comment | added | Ganesh Sittampalam♦ | It would be useful to back this up with some concrete information about the UK, e.g. the law or how this is approached in practice. | |
| Sep 18, 2020 at 13:16 | history | answered | Fattie | CC BY-SA 4.0 |