10-05-2014, 10:02 AM
When we sold our house in Gloucestershire almost 3 years ago, we banked half of the proceeds and bought our downsized bungalow with the other half. After careful investigation, I then invested the banked half for a regular return. The financial adviser firm asked (reasonably) for an "audit trail" for this (ostensibly) cash. I was able to let them have a copy of the conveyancing solicitor's account of our funds to show the half had been "earned" on the house sale. This satisfied them.
Having worked for 3i Group (venture capital) for many years, I fully understand the need to trace money laundering. We had more than one instance of "co-investors" not being what they seemed. Like others, I have paid for a house on my debit card, not just cars or motorhomes.
Colin
Having worked for 3i Group (venture capital) for many years, I fully understand the need to trace money laundering. We had more than one instance of "co-investors" not being what they seemed. Like others, I have paid for a house on my debit card, not just cars or motorhomes.
Colin
