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Withdrawing €100'000 in cash

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    #32
    mimsy
    Registered Users Posts: 34 ✭mimsy


    Marcusm wrote: »
    desertcircus wrote: »
    Bank staff can be held personally liable in terms of money laundering cases if they don't follow certain steps. For a hundred thousand quid, you'd be looking at an awful lot of questions, and the answers would almost certainly be passed onto the authorities.

    You'll only get lots of questions if they don't suspect you. If they have any suspiscions, they will avoid questioning you as that might tip you off. Will be very interesting to see how you get on.

    Writing as an ex-teller, you should always be questioned when withdrawing large cash volumes like this. The teller is not doing his job properly if he/she doesn't. The telker is potentially liable if subsequent criminal charges are made.
    Once such a transaction was made, you are referred to the manager with responsibility for money laundering adherence. This is irrespective of your answers btw


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    #33
    shockwave
    Registered Users Posts: 1,770 ✭✭✭shockwave


    Are the same kind of questions asked if large deposits are made in cash?


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    #34
    Atlantic Dawn
    Registered Users Posts: 82,520 ✭✭✭✭Atlantic Dawn
    M


    shockwave wrote: »
    Are the same kind of questions asked if large deposits are made in cash?

    Yes think €15k in cash is the figure they have to alert the authorities on. The alert may come to nothing though.


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    #35
    kneemos
    Registered Users Posts: 20,432 ✭✭✭✭kneemos


    Whats the point in asking the questions if the answers do'nt matter.


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    #36
    KoolKid
    Moderators, Home & Garden Moderators, Technology & Internet Moderators Posts: 24,789 Mod ✭✭✭✭KoolKid


    shockwave wrote: »
    Are the same kind of questions asked if large deposits are made in cash?

    It should be asked for lodgements...
    However , how would they disprove A good day at the races.:rolleyes:


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    #37
    daithijjj
    Registered Users Posts: 7,588 ✭✭✭daithijjj


    I have seen lads leave casino's with well over £50k in their 'sky rocket' from the blackjack tables (wise move or not is not a debate for this thread). Overheard them talking a few times as we used to go in just for the late drinks (6am close).

    I believe your level of interrogation if you were depositing or withdrawing 50k would depend on your account history is the jist i got from them. Some of these lads playing had very very well paid jobs or their own small companies. One of them said jokingly that he had put 20k+ through the fast lodgement at the bank and would have loved to have seen the cashier's face when they opened it. Each to their own, i'm no judge. Surely questions would only be in order if a transaction of that sort was totally out of swing with your account history?. What do folk with 'silly' money do?, get water boarded into submission every time they fancy a flutter?.


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    #38
    KoolKid
    Moderators, Home & Garden Moderators, Technology & Internet Moderators Posts: 24,789 Mod ✭✭✭✭KoolKid


    That's very true. You could be running a small enough company but with large amounts of cash sales, Some lads I know would be lodging that a few times a week. It would be a full time job asking these the obvious questions over & over.


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    #39
    mimsy
    Registered Users Posts: 34 ✭mimsy


    kneemos wrote: »
    Whats the point in asking the questions if the answers do'nt matter.
    You're right. It doesn't matter what the person says. You just go through the motions, write down their response somewhere on the lodgement slip and refer the lodgement on to the officer in charge.

    You need to cover yourself in case it comes back to bite you in the ass at a later stage!


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    #40
    Jose1
    Registered Users Posts: 129 ✭✭Jose1


    It's a free country:D


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    #41
    kneemos
    Registered Users Posts: 20,432 ✭✭✭✭kneemos


    Jose1 wrote: »
    It's a free country:D

    Try that defence in court and let us know what the big house is like.


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    #42
    Shelflife
    Registered Users Posts: 3,074 ✭✭✭Shelflife


    Its no business of the bank what you are going to do with the money you are withdrawing from your account.

    Thre only reason they are asking is to see if you are putting it into another bank or pension/investment that they could sell you as well.


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    #43
    kneemos
    Registered Users Posts: 20,432 ✭✭✭✭kneemos


    It's not the bank it's the revenue thats concerned


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    #44
    Shelflife
    Registered Users Posts: 3,074 ✭✭✭Shelflife


    kneemos wrote: »
    It's not the bank it's the revenue thats concerned

    revenue are more concerned with lodgements, ie: if you lodge large amounts of cash they will be interested in where that cash came from, if you save €50 a week for 5 years and then withdraw €13000, revenue wont give a ****e about that.


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