I live in france and I can't open a M&S account in U.K. because of ''money laundering. (which I would like to use when I go back to visit family).
2007-01-06 02:51:37 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
To move illegally acquired cash through financial systems so that it appears to be legally acquired.
2007-01-06 04:22:30 · answer #1 · answered by Anonymous · 1⤊ 0⤋
There are laws in France to stop French people having more than a certain amount in banks of other countries ( Switzerland for example) and it is quite low, I think around £2000, so try to open an account next time you are in GB with an English address and an e-banking set up so you can transfer electronically, or you could put it on a credit card that way you can use the card to buy when you are out of France
2007-01-06 03:05:17 · answer #2 · answered by ? 6 · 0⤊ 1⤋
The Legal definition of Money laundering is to Transfer funds around in a manner that which when completed Maskes the origen of the funds.
2007-01-06 12:05:35 · answer #3 · answered by njshoremortgage 2 · 0⤊ 0⤋
There are millions of French businessmen with accounts in the United Kingdom.
You don't need an account to visit your family.
2007-01-07 07:42:28 · answer #4 · answered by Anonymous · 0⤊ 1⤋
it is the process of placing DIRTY or illegal funds by placing it in various ways into the banking system then layering it (this means redistributing it eg buying and selling high value items) and then banking the funds again so appearing from a CLEAN source
2007-01-06 03:02:04 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Moving money around in business to avoid paying any tax on it. This occurs very often.
2007-01-06 02:55:05 · answer #6 · answered by robert s 2 · 0⤊ 1⤋
its where mony from crime is passed through a legitamat sorce to make it clean (to sell a house in the uk now you have to produce your passport etc at the agents )before they will offer it for sale for you!!
2007-01-06 02:58:41 · answer #7 · answered by Anonymous · 0⤊ 1⤋
It what my wife did last night - washed a pair of my trousers which had a £10 still in the pocket :-(
2007-01-06 03:37:07 · answer #8 · answered by Anonymous · 0⤊ 2⤋
Give me your money and I will laundry it for you, you don't need to know how its done. Its safer that way, NO comebacks.
2007-01-06 03:05:27 · answer #9 · answered by biggsy 1 · 0⤊ 1⤋
Try another bank eg Abbey!
2007-01-06 03:01:44 · answer #10 · answered by roy d 3 · 0⤊ 3⤋