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There isn't a bank in the World that will not comply with local laws. The AMLD is not secret. You can read it here: https://eur-lex.europa.eu/legal-content/EN/

There isn't a bank in the World that will not comply with local laws. The AMLD is not secret. You can read it here: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32015L0849 https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A... The AMLD is not dissimilar to any other anti-money laundering regulation in the World, including the USA, Switzerland and others. If you have large cash flows, you will be asked by banks to explain the nature of them to ensure they are not illicit. If you are not prepared to explain that, the bank is not under any duty to do business with you, and depending on the nature of your transactions may be required to report them to law enforcement. If you do not answer to law enforcement, they will likely start an investigation to ensure you're not involved in organised crime. Once your bank or law enforcement are happy you're not involved in organised crime, they'll leave you alone. That's it. If you are not involved in organised crime, but not prepared to explain that, yes, law enforcement are going to be interested and banks may not be prepared to do business with you. This has been the case for hundreds of years, it's only now there are more strict guidelines and rules around when suspicions should be raised and reported, and how they should be investigated. I really don't see what the paranoia here is actually about.

wojciii 3y ago
I'm not talking about large cash flows here. I'm talking about any use of cash or transfers between family and friends. Everyone is guilty until proved otherwise. I'm supposed to explain everything upon request and I can't say no. I don't find that reasonable. About larger sums I don't have a problem with explaining where a certain transaction originated from, but it seems like banks want to trace money from their origin to destination. I don't find this reasonable. I would expect this to be something that law enforcement would do.
- wedernoch 3y ago
  What is your actual problem? You send 10€ to your mother and your bank asks your where you got them from and why you send them to your mum?
  - wojciii 3y ago
    If you withdraw cash regularly it will get you flagged by the bank and you will probably have to answer some questions. Answering wrongly will get you terminated as a client.
    - wedernoch 3y ago
      Edit: ok, it's crypto. See posts bellow somewhere Can you say something about the sums? I (in germany) got my rent money every month from my parents while I was a student. No problem. I withdraw something like 100€ per week for bars, backeries and other small expenses and I never ever had any problems. It buffles me that so many people are jumping to conclusions although you provided so little context. If you have a cash inflow of 50k per month and withdrow that much, the bank may think you pay people in cash, avoiding taxes (like on construction sites). Which is totaly legit IMO. But again, you gave almost no context..
      - Arainach 3y ago
        >Which is totaly legit IMO I do not know any jurisdiction in which intentionally avoiding tax is legal.
        wedernoch 3y ago
        I meant it's legit that the bank gets suspicous. Sorry I'm not a native speaker
      - wojciii 3y ago
        My current problem is crypto related, but the main problem is that banks care if you use cash and will ask about it. I find it unreasonable.
        moooo99 3y ago
        I don't think that is true, at least not EU wide. I frequently (have to) use cash and I was never flagged by any of my banks or had to provide any sort of receipts for my transactions, not the local one and not the international ones. The only exception was the sale of my car, as the transaction exceeded 10k, I had to provide a short explanation, which in my case was the purchasing agreement. I am really curious how this has proven to be an issue for you or if this is just another banks bad crpyto thing?
- HenryBemis 3y ago
  > of cash or transfers between family and friends one may say that this cousin is trying to wash/launder his cash from that drug trafficking, stealing, and by breaking it down to small amounts which he gives you in cash and then you 'venmo'/paypal to him via the banking system (I can give you more cringe-worthy scenarios but I hope you get the spirit on this one). transfers between family (I assume the very immediate husband-wife that reasonably live together and have a household together). If you exchange €10k per month with various cousins, then sorry - not sorry - that smells fishy. I don't suppose any bank is triggered by a €20 payment once per month (splitting pizza/drinks). But if you do this daily/regularly and the amounts (even seemingly small) add up to some €k, then again.. sorry - not sorry - that smells fishy. I remember paying for a business service in the UK some years ago a couple of thousand (GBP) and the guy's bank got triggered because his payments were coming from within UK and this one came from the EU. Now, it is small amount, totally justifiable, but perhaps the guy has told his bank he only does business 'locally' and he's been getting multiple payments from abroad.
- soliton4 3y ago
  have you considered buying some btc and send it to your family member? then they can convert it back to whatever that danish excuse for a currency is
  - wojciii 3y ago
    I could do that but our currency is stable and btc is not. The currency is DKK. Some of us didn't want euro. :) Also the other bank will also ask about the money received and the receiver will have to explain themselves. The solution is to use crypto for everything instead of cash. Not realistic for some time based on my experiences.
- thefz 3y ago
  Not really, in Italy as an example you can freely exchange up to 20K without raising any eyebrows.
wg0 3y ago
I think it is a necessary evil if you will otherwise society would have a huge amount of uptick in criminal activities. Also, banks have literally automated alarm and triggers in place to flag transactions for reviews. Famous HSBC case comes to mind.
- junofan 3y ago
  It raises the bar for crime to organizations with state sponsorship. Not sure that’s the outcome we’re looking for.

wojciii 3y ago

I'm not talking about large cash flows here. I'm talking about any use of cash or transfers between family and friends. Everyone is guilty until proved otherwise. I'm supposed to explain everything upon request and I can't say no. I don't find that reasonable. About larger sums I don't have a problem with explaining where a certain transaction originated from, but it seems like banks want to trace money from their origin to destination. I don't find this reasonable. I would expect this to be something that law enforcement would do.

wedernoch 3y ago
What is your actual problem? You send 10€ to your mother and your bank asks your where you got them from and why you send them to your mum?
- wojciii 3y ago
  If you withdraw cash regularly it will get you flagged by the bank and you will probably have to answer some questions. Answering wrongly will get you terminated as a client.
  - wedernoch 3y ago
    Edit: ok, it's crypto. See posts bellow somewhere Can you say something about the sums? I (in germany) got my rent money every month from my parents while I was a student. No problem. I withdraw something like 100€ per week for bars, backeries and other small expenses and I never ever had any problems. It buffles me that so many people are jumping to conclusions although you provided so little context. If you have a cash inflow of 50k per month and withdrow that much, the bank may think you pay people in cash, avoiding taxes (like on construction sites). Which is totaly legit IMO. But again, you gave almost no context..
    - Arainach 3y ago
      >Which is totaly legit IMO I do not know any jurisdiction in which intentionally avoiding tax is legal.
      - wedernoch 3y ago
        I meant it's legit that the bank gets suspicous. Sorry I'm not a native speaker
    - wojciii 3y ago
      My current problem is crypto related, but the main problem is that banks care if you use cash and will ask about it. I find it unreasonable.
      - moooo99 3y ago
        I don't think that is true, at least not EU wide. I frequently (have to) use cash and I was never flagged by any of my banks or had to provide any sort of receipts for my transactions, not the local one and not the international ones. The only exception was the sale of my car, as the transaction exceeded 10k, I had to provide a short explanation, which in my case was the purchasing agreement. I am really curious how this has proven to be an issue for you or if this is just another banks bad crpyto thing?
HenryBemis 3y ago
> of cash or transfers between family and friends one may say that this cousin is trying to wash/launder his cash from that drug trafficking, stealing, and by breaking it down to small amounts which he gives you in cash and then you 'venmo'/paypal to him via the banking system (I can give you more cringe-worthy scenarios but I hope you get the spirit on this one). transfers between family (I assume the very immediate husband-wife that reasonably live together and have a household together). If you exchange €10k per month with various cousins, then sorry - not sorry - that smells fishy. I don't suppose any bank is triggered by a €20 payment once per month (splitting pizza/drinks). But if you do this daily/regularly and the amounts (even seemingly small) add up to some €k, then again.. sorry - not sorry - that smells fishy. I remember paying for a business service in the UK some years ago a couple of thousand (GBP) and the guy's bank got triggered because his payments were coming from within UK and this one came from the EU. Now, it is small amount, totally justifiable, but perhaps the guy has told his bank he only does business 'locally' and he's been getting multiple payments from abroad.
soliton4 3y ago
have you considered buying some btc and send it to your family member? then they can convert it back to whatever that danish excuse for a currency is
- wojciii 3y ago
  I could do that but our currency is stable and btc is not. The currency is DKK. Some of us didn't want euro. :) Also the other bank will also ask about the money received and the receiver will have to explain themselves. The solution is to use crypto for everything instead of cash. Not realistic for some time based on my experiences.
thefz 3y ago
Not really, in Italy as an example you can freely exchange up to 20K without raising any eyebrows.

wg0 3y ago

I think it is a necessary evil if you will otherwise society would have a huge amount of uptick in criminal activities. Also, banks have literally automated alarm and triggers in place to flag transactions for reviews. Famous HSBC case comes to mind.

junofan 3y ago
It raises the bar for crime to organizations with state sponsorship. Not sure that’s the outcome we’re looking for.