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lucy7368,
Category: UK Immigration Law
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MA, WHAT ARE THE IMPLICATIONS OF TRANSFERRING LUMP SUMS (e.g

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DEAR SIR/MA, WHAT ARE THE IMPLICATIONS OF TRANSFERRING LUMP SUMS (e.g 100,000USD PER DAY-MAXIMUM LIMIT) THROUGH BANKS IN UK TO CHINA TO PAY SUPPLIERS OF PRODUCT FOR MERCHANTS IN NIGERIA. I AM IN NIGERIA AND THE MONEY WILL BE PURCHASED LOCALLY FROM BUREAU
EXCHANGE WHEREBY AN EQUIVALENT OF SUCH AMOUNT IS PAID BY AN THEIR AGENT IN UK INTO MY UK ACCOUNT WHILE I FUND THEM WITH OUR LOCAL EQUIVALENT. SEQUEL TO THE ABOVE, THE MONEY WHICH IS NOW IN MY UK ACCOUNT IS WHAT I WILL TRANSFER THROUGH ONLINE BANKING INTO BANKS
IN CHINA(ESPECIALLY), SOMETIME UK OR US BANKS. IS THIS CONSIDERED AS MONEY LAUNDERING? I NEED MORE CLARIFICATION OF WHAT CONSTITUTE MONEY LAUNDERING AND WHAT OTHER CHARGES COULD BE TABLED AGAINST ME SUPPOSE I TRAVEL TO THE UK. THANKS
Submitted: 1 year ago.
Category: UK Immigration Law
Expert:  lucy7368 replied 1 year ago.

Hi,

I'm Lucy, and I'd be happy to answer your questions today.

This is a very common scam. There is never a legitimate reason to pass money for a company through your own bank account. Never. Also, routing money through multiple countries is going to cost a lot of money in foreign exchange rates and conversion fees - there's no logical reason for any company to do that.

It is possible that if you go along with this scheme, you'll be implicated for money laundering and charged with multiple felonies. You can't even claim willful ignorance in a situation where the transaction you're participating in is so bizarre that you're on notice to inquire further (especially since you did ask). But what's actually going to happen is that any and all money they put into your account will be mysteriously reversed AFTER you've sent the money on, your account will wind up overdrawn by several thousand dollars, any legitimate items you want to process will be returned, and you won't be able to pay your bills.

Do not EVER use your bank account to transfer money for someone else. That's the worst possible way to process business transactions, and it is virtually ALWAYS a scam.

Customer: replied 1 year ago.
Dear Lucy,
Thanks for your honest and genuine opinion...I have a start-up company that will be dealing in 1) E-commerce; and at one time or the other will be procuring items (varied product under different categories) from China, UK and and US. There are challenges with getting letter of credit (LC) from the Nigerian banks due to scarcity of funds and fall in oil prices which has affected the economy. Also, there are long queues and wait for funds at cheaper exchange rate which is not encourage for business.
We are also into 2) IT solutions and business advisory and lastly;
3)Procurement and Logistics as indicated on our letterhead.
However, don't we as a company have the right to procure items on customer's behalf to purchase items from China (especially) which falls under our procurement and logistics. I intend to file a receipt for any of this payments incase it leads to controversy with UK law enforcers. Please feel free to give me your candid opinion.Also, bear in mind I am a Nigerian Citizen with residence in Nigeria. I happen to have studied in the UK and have lived there for about 4years.(from 2007-2011) residing in four different counties . Ever since my return, I have been visiting UK yearly.
The reason I am consulting you the expert is because I do not want a situation whereby I will be barred from entering UK or maybe detained for questioning on arrival. It is never my intention to break UK law as I am fully aware of the consequences (jail) if I do. However, there is a counter claim for any suspicion since it was genuine (for business purpose). One thing I have always loved UK for is that, you must have substantial evidence before you prosecute; without it, its all in vain!!!My account is not a business account but I have the right to choose since I would not be able to maintain a business account due to their redundant charges even though it comes with some added advantage. Thanks
Expecting your response!!
Expert:  lucy7368 replied 1 year ago.

I'm sorry, but as a US lawyer, this is not the type of thing I can help you with. I'll have to see if we have someone with experience in UK immigration for you to talk to.

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