Skip to content
BOL Conferences
Thread Options
#1738565 - 09/06/12 06:31 PM Wire Limits from Royal Bank of Scotland
kjbabington Offline
100 Club
Joined: Jan 2006
Posts: 203
FL
I have a customer that is receiving multiple wires from themselves from an account they hold at the Royal Bank of Scotland PLC. They told the branch staff they can only send up to $12,000 unless they are conducting the wire transfer in person. Has anyone else run into this, I just think it seems odd activity.

Return to Top
BSA/AML/CIP/OFAC Forum
#1738646 - 09/06/12 07:54 PM Re: Wire Limits from Royal Bank of Scotland kjbabington
Cape Codder Offline
Gold Star
Joined: Jul 2011
Posts: 413
Seems a bit farfetched to me. $12,000 sounds like an odd amount for a wire transfer limit. Any chance your customer can provide you with something from RBS documenting the restrction? In my experience, if someone is attempting to avoid detection, they're usually initiating/receiving wires just under $10,000. What are you seeing for activity?
_________________________
Nothing difficult is ever easy.

Return to Top
#1738700 - 09/06/12 09:50 PM Re: Wire Limits from Royal Bank of Scotland kjbabington
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Considering that would be 7530.1200 British pounds sterling and would fluctuate on a daily basis, as I am sure they don't denote limitations in US Dollars, it does seem to be a bit of an unusual claim......
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1740086 - 09/12/12 02:30 PM Re: Wire Limits from Royal Bank of Scotland kjbabington
kjbabington Offline
100 Club
Joined: Jan 2006
Posts: 203
FL
Customer states he is moving the money when the market favors him and that he is building a house here. The money is transferred into the checking account and then immediately moved to a savings account also at our bank. The funds are just stockpiling there total of $300,000 now. Of course the branch says he is super nice.

Return to Top
#1740152 - 09/12/12 04:12 PM Re: Wire Limits from Royal Bank of Scotland kjbabington
devsfan Offline
Diamond Poster
Joined: Jun 2004
Posts: 1,927
NYC
If you do file a SAR for activity that is not normal and expected for the customer be sure to include in the narrative that the wires are coming from his account overseas so if he did not file the required FBAR the IRS might become interested.
Last edited by devsfan; 09/12/12 04:13 PM.
Return to Top

Moderator:  Andy_Z