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Depositing then Withdrawing a large sum of money

  • 11-07-2005 9:07am
    #1
    DaBreno
    Closed Accounts Posts: 1,156 ✭✭✭


    Hi folks, have a quick question for ye : A friend of mine (no, not me!) was asked to open an account for her brother up the North, brother lives in England. He wants to cash in a few cheques(to the value of 24,000 pounds) and have her withdraw it in bits and bobs a couple of weeks later. The money itself is all above board but is there any dodgy issues that could arise from this?
    Cheers!


Comments

  • #2
    Oriel
    Banned (with Prison Access) Posts: 5,154 ✭✭✭Oriel


    The bank will look at this as a suspicious transaction and will probably launch an internal investigation into it. That's what happened in the bank I was working for (also in the North). At least, that's what they should do.
    Any lodgement into a personal account over £2000 and they look into it and make sure everything's above board.


  • #3
    karlh
    Registered Users, Registered Users 2 Posts: 2,835 ✭✭✭karlh


    sounds dodgy but if it's above board as you say, there should be no problem at all.

    ......unless her brother is a Nigerian prince, transferring his family's fortune for safe keeping.


  • #4
    Sparky
    Registered Users, Registered Users 2 Posts: 22,231 ✭✭✭✭Sparky


    my mam accidently lodged a cheque for 10,000 to my account, and it was then transferred the next day to the proper account, the bank did'nt contact us at all, but i bet the did have a look over the accounts to see if everything was ok.


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