MikeInWimbledon
MB Enthusiast
- Joined
- Nov 8, 2014
- Messages
- 9,802
- Car
- (Ex S211 E500, W212 E500, C216, S212 E500, W211 E500 5.5, W221 S500, S211 E500, SL500, S500, E55)
Here's the link to HM Government's EU regulatory requirements for money laundering reporting in the event of payments greater than £10k. In essence it's all about identifying payee and payer, so that money laundering and tax evasion "could" be investigated.Not correct I have bought cars for £70k+ from a dealer and transferred the money in chunks of £25k per day which is the maximum daily allowance that the bank allowed.
Information you must send with a transfer of funds to prevent money laundering