Author Topic: Suspicious Activity Report  (Read 487 times)

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Offline Tāf

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Suspicious Activity Report
« on: September 15, 2017, 14:24:20 PM »
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Suspicious Activity Reports (SARs) have become the tool of choice to allow HMG via MHRC to poke their noses in where they are not needed.

I've had friends and family having to explain in detail, with documentary proof, of any "large" cash sums they wanted to deposit in banks or use to purchase things like cars.

A neighbour is stuck because she has Euros she can't exchange in one go, and she tried swapping it in parts but got the SAR letter.

Another sold a caravan but his banks have refused to accept his money, and now HMRC want details of the sale, but the new owner left no details and has moved away with the caravan.

And a family member was refused a cash sale by a secondhand car dealership!!!

A big queue at the ASDA bureau d'exchange earlier (the £ went up against the euro). One by one they got to the front of the line, looked puzzled and left fuming (and some were swearing).

A handwritten notice said " All cash transactions to buy foreign currency over £850 require passport or national ID, plus proof of domicile. All transactions over £1850 require the same plus valid travel documents for a minimum 5 day stay outside the UK."

Big brother wants us all to move our money by the banking system, and incur charges.  :grumpy: