Is this money laundering?

My aunt is moving to the UK from abroad, she is asking us if she can send us £5000 of her money to give to her once she gets here. She wants to send it to us because she doesn't want her husband(soon to be ex) to find out.

This does seem a bit dodgy to me though and we don't want to get done for money laundering. Am I right in thinking that we could get in trouble?

Reply 1

Reue

Original post by Jedders

Doesnt seem legit

Reply 2

Jedders

I know it sounds dodgy as hell, shes a bit ridiculous, we're planning on telling her no but just wanted to make sure.

damn you in the ****

if it is genuinely her own money and not in a shared account then thats fine but from what you said, it may be a little dodgy!

Reply 6

Zerforax

https://www.gov.uk/bringing-cash-into-uk

Travelling in the EU
If you bring cash to the UK from another EU country, you don’t need to declare it.

Travelling outside the EU
You must declare cash of €10,000 or more (or the equivalent in another currency) if you take it between the UK and any non-EU country.

So seems like she'd be allowed to bring the cash herself when she traveled to the UK. There are loads of currency/money companies which let you send money abroad so don't see any issues with that either.

Just a case of whether she trusts you (as a family) to give her money back to her at a later time vs. carrying such a large amount of cash on her when traveling to the UK. I can see why she'd pick the first option.

Reply 7

ioclops

Money laundry is not a criminal offense in any planet of this galaxy. Dry your bills by placing them on the roof of your house and within one day they will dry up.

Reply 8

999tigger

My understanding is for it to be money laundering under the Proceeds Of Crime Act 2002 Part 7 - Money Laundering Offences
it has to be from the proceeds of crime and you either have to have knowledge or suspicion of it being so.
That means if its clean legitimate money and thorougly traceable it cant be a proceed of crime.
That means your problem would be with suspicion of the activity as you are telling us you have a suspicion

A frequently used description is that '...A suspicion that something exists is more than a mere idle wondering whether it exists or not; it is a positive feeling of actual apprehension or mistrust, amounting to a "slight opinion, but without sufficient evidence"

There are 2 offences you could be guilty of if the money was the proceeds of crime and you knew or suspected that and they relate to arranging or possession of the proceeds. S328 and s329.
http://www.cps.gov.uk/legal/p_to_r/proceeds_of_crime_money_laundering/#Section_328_offence

There is a defence and that relates to notifying the authorities.
I suggest you contact
1.your bank and have a word with the money laundering people there and take their advice.
2. You could also notify the police- who might in turn pass you onto 3.
3. You could notify the UK Financial Intelligence Unit (UKFIU) at the National Crime Agency and they cam grant clearance if you make a request.
http://www.nationalcrimeagency.gov.uk/contact-us/reporting-suspicious-activity-sar

Clearance from them would cover you 100%. It might be your Aunt has to do soemthing as simple as probiding her details and get her ID verified. It all boils down to how much you wnat to help and whether you can be bothered to make a few phone calls.

Reply 9

brabzzz

Good god - talk about making a mountain of a mole hill.
It's 5k. I doubt anyone you could possibly call would give a toss.

Reply 10

999tigger

Original post by brabzzz

Good god - talk about making a mountain of a mole hill.
It's 5k. I doubt anyone you could possibly call would give a toss.

If its the proceed of crime or found to be used in terrorism, then its an offence under the relevant legislation. Thats why you should cover yourself if you take unverified money.

Reply 11

brabzzz

Original post by 999tigger

If its the proceed of crime or found to be used in terrorism, then its an offence under the relevant legislation. Thats why you should cover yourself if you take unverified money.

Lol. It's 5k. That's a lot of money to most people on TSR, but in the grown up world it ain't.

We are taking about someone aunt too...not some unknown mafioso....a pretty close family relation. OP - any sign of secret handshakes with strangers, concealed carry, suspicious white powder, multiple passports or interpol warrents?

Reply 12

Nidhoggr

Original post by Jedders

it is not money laundering. please do us all a favour and take the literal twenty seconds it takes too google and read what money laundering is.

given her story, her intentions seem benign to me. Also it is your aunt.