Bank Want To Know What I'm Buying?

[Gareth79]

"Skyhooks and elbow grease" lets them know what you think but is probably safer

[BlueMR2]

Gimp masks for your new S&M business.

Might get some orders if your lucky.

[Fastpedeller]

If you're elderly and taking a large sum to pay 'the guy who's just cleaned my roof' then hopefully plod would be alerted and spring into action - but I fear that wouldn't be the case at all.

[longone]

Just my opinion but this is part of preparing the population for currency controls. I've had the same experience when transferring money to buy gold and silver bullion and more recently Bitcoin off Mt Gox. I told them to forget even asking me but they were determined to get an answer. In the end I said do as I say or I'll close my account.
A few years ago when I first bought gold I was never asked anything, it's something that begun about a year ago.
The money laundering cover is nonsense. Banks are the frontline in currency controls.

[B17NNS]

Tell him you're buying bitcoins because you're going off grid.

[jeff m2]

"Just popping over to Cannes for the week with your Manager's Wife"

Or

"I have to settle my bill at a Gentleman's Club"
Which one?
"The one where teller no 4 works most evenings".

or if either of the those are actually close to the truth.

Stick with "I'm buying a car/boat"

[The Stiglet]

longone said:

The money laundering cover is nonsense. Banks are the frontline in currency controls.

Or the frontline of money laundering depending on which bank we're talking about.

[menousername]

The Stiglet said:

longone said:

The money laundering cover is nonsense. Banks are the frontline in currency controls.

Or the frontline of money laundering depending on which bank we're talking about.
[/quote}


how does asking at the point of a cash withdrawal prevent money laundering, even if you block it... the point of deposit is the point of laundering no? ALso, surely money launderers by definition want rid of cash, once into an account job is done.

no self respecting-crime boss or money launderer would ask for cash over the counter either.

Although possibly an innocent question I agree - we should be cautious, thin end of the wedge etc. Similar to the thread about why does anyone use cash anymore. Too many concerns about currency controls, bullion controls, offshore accounts, preventing movement of funds, bank bail-ins etc not to worry

[chris7676]

z4chris99 said:

I say drugs every time. mind your own business

Not sure completely clever knowing it may get reported and acted upon, don't forget the authorities make mistakes, including accidental shootings of innocent people (let alone jokers who would claim they have guns) just on grounds of so called 'intelligence'...