Money laundering regualtions?

[plasticpig]

Anyone familliar with regulations as regards to banks and reporting? If you walked into a bank with £50K in cash and told them it was your life savings what could they do and more importanly would you have to prove how you got the cash? What would happen if you were paying into a relatives bank account on the relatives behalf?

[Chilli]

Yep, banks only have an obligation to satisfy themselves that you're legit. They will make an internal report and file it. This proves they have investigated the transaction, and were happy with the responses they got from the customer. That should be the end of it.

However, if you started doing it every week, it's be a different case!