Anti Money Laundering Anti Money Laundering
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    Default Anti Money Laundering

    The great Moldovan bank robbery

    AML is working a treat then

    It makes you laugh how many hoops you have to go through as a contractor.

    Wonder how long it will be before this guy buys a Premiership club.

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    It stinks that this stolen money was laundered through UK companies.

    If a contractor wants to deposit 50p in a new bank account he needs 7 items to prove identity, a sworn affidavit of good character by a high court judge and personal history going back to the womb.

    Thus proving the so called anti money laundering is just to piss off the little people.
    SARS-CoV-2 - Finally something from China that still works as designed.

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    Quote Originally Posted by DimPrawn View Post
    It stinks that this stolen money was laundered through UK companies.

    If a contractor wants to deposit 50p in a new bank account he needs 7 items to prove identity, a sworn affidavit of good character by a high court judge and personal history going back to the womb.

    Thus proving the so called anti money laundering is just to piss off the little people.
    Well, I bought a Chinese and a film yesterday as I do almost every single week and before I could log off, Barclays had sent me a text asking if the transactions were genuine, to which I replied yes and at 0830 this morning I get an automated call from them asking me to call their fraud number. They say this is suspicious activity 's

    Perhaps I should have withdrawn a billion or two at the cast machine.

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    Some bought their shares using funds from UK limited partnerships, whose ownership is often opaque.
    That's what I was expecting to see when I read the story. Private Eye did an entire special report on limited partnership companies last year, and how they're a gift to money launderers. Neither "partner" need be a physical person, and if they're not uk resident, there is no reporting requirement.

    The original intention for this company type is bad enough - that was so accountants (guess who cames up with the wheeze and lobbied government for it?) no longer had to stand by their advice personally.
    Down with racism. Long live miscegenation!

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    Quote Originally Posted by tractor View Post
    Well, I bought a Chinese and a film yesterday as I do almost every single week and before I could log off, Barclays had sent me a text asking if the transactions were genuine, to which I replied yes and at 0830 this morning I get an automated call from them asking me to call their fraud number. They say this is suspicious activity 's
    I've never once had that with Barclays. You must be especially dodgy, or perhaps it was the types of film you buy.
    Will work inside IR35. Or for food.

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    Quote Originally Posted by NotAllThere View Post
    That's what I was expecting to see when I read the story. Private Eye did an entire special report on limited partnership companies last year, and how they're a gift to money launderers. Neither "partner" need be a physical person, and if they're not uk resident, there is no reporting requirement.

    The original intention for this company type is bad enough - that was so accountants (guess who cames up with the wheeze and lobbied government for it?) no longer had to stand by their advice personally.
    The article prompted me yesterday to go refresh my memory on AML regs and oddly, the first thing that hit me (within the first 5 pages) was the point you made above. Strange how the legislators miss it, then next thing you know the Home Secretary is on tv wringing her hands and whining that they are doing all they can to stop the funding of terrorism when actually, they are all guilty of legislating to enable it.

    Quote Originally Posted by VectraMan View Post
    I've never once had that with Barclays. You must be especially dodgy, or perhaps it was the types of film you buy.
    Well it was probably suspicious because it was the box set of GoT5 and there can't be many people who bought that now can there

    Strange thing is that the same happened around this time last year with similar transactions triggering the action. Last time, I got a text message to which I responded, next was a call from one of our friends from the sub continent who told me during the conversation that where this process is triggered, they actually put a block on the card until you call them on the number in the text. Except that you have to be online to verify that the random number you have received from a random text is actually a genuine Barclays anti fraud number. This did happen to me first about 10 years ago when I was prepping the car to drive to France, I filled up, got a lights/hazard kit from Halfords and some random stuff from the garage and boom, phone is ringing before I can get back to the car.

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