2006-06-27 04:34:22 · 4 answers · asked by akhtarlateefl 1 in Business & Finance ➔ Personal Finance
The UK banks are now on watch for this sort of Transaction, and will report it as suspicious if not in keeping with your normal activity.
Money laundering / Drug based activites and counter terrorism are all issues for the banking sector. You would be suprised how wide ranging the effects of recent legislation here.
Forgive me for saying this though. You sound out of you depth if you are asking. BE CAREFUL!
2006-06-27 06:25:38 · answer #1 · answered by 'Dr Greene' 7 · 6⤊ 1⤋
Financial regulation? None.. just apply for a telegraphic transfer from your bank, just give them the instruction and details of the beneficiary account (i.e. bene bank, address, branch, swift code, bene account #, etc), the bank will know how to execute the transfer and you get to be charged a certain bank fee for the transfer..that's all.
It's a different matter altogether if you were referring to Government Regulations/Restrictions.. then you have to check/verify. It depends on which country the beneficiary account is located.
2006-06-27 04:51:02 · answer #2 · answered by katrina_ponti 6 · 0⤊ 0⤋
I guess you mean will the banks get suspicious.. yes - unless you do lots of similar transactions. They wont usually care - but normally have to declare to the local government deposits over a certain amount (Money laundering)
2006-06-27 06:18:43 · answer #3 · answered by want_to_explore_life 3 · 0⤊ 0⤋
If you try and transfer millions of dollars from Nigeria to the UK, forget it! No Bank will accept it!
2006-06-27 19:14:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋