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The only way to get any assurance about staying out of trouble with your bank is to have enough money that they start to not care so much about the risk of doin
by AmericanChopper 3y ago
The only way to get any assurance about staying out of trouble with your bank is to have enough money that they start to not care so much about the risk of doing business with you, and to pay a lot of money to an expert to do the AML compliance for you.
- JohnFen 3y agoThe other way is to communicate with the bank. Talk to them. If you're doing something involving a large amount of money, or something unusual for you, call them up, tell them what you're doing and ask for their help. Don't do everything online. Do the big or unusual stuff person-to-person. It doesn't even have to be an in-person visit. Give them a call.
- AmericanChopper 3y agoThis is a woefully naive position. Unusual activity on your account is an easy way to get a SAR. Calling up to check whether you’ll get a SAR is an even easier way to get a SAR.
- JohnFen 3y agoIt's always worked very well for me for decades. I wouldn't ever ask whether or not I'll get an SAR, though. That sort of question is pointless. Instead, I just treat my bank as a core partner to my business and include them in my plans. The side-effect is that nothing I do looks suspicious to them.