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Is the business operating legitimately?

Bank has requested a letter to

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A client has received a letter from his bank, asking him to obtain a letter from his accountant/solicitor confirming 'confirmation that our customer's business; XXXXX t/a XXXXXXX is operating legitimately and there are no genuine concerns'. The trading address needs to be included.

 

Anyone seen something like this?  what is a 'genuine concern'?

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the sea otter
By memyself-eye
25th Sep 2019 10:28

That's a new one.
Don't sign unless you want to accept liability for any of your client's misdeeds

(which is not to say that there are any!)

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Glenn Martin
By Glenn Martin
25th Sep 2019 10:32

Write back and ask them the same question, the success of money laundering is when the money enters the banking system, so therefore its the bank who are the first back stop. You are merely reporting on events after they have happened as an accountant.

I wouldn't reply as if you are suspicious you have your own reporting responsibility and it is not to the bank.

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Caroline
By accountantccole
25th Sep 2019 11:25

Think I had one like this, I answered backwards "I have no reason to believe that they're not...."

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Replying to accountantccole:
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By paul.benny
25th Sep 2019 13:26

That's a very good answer. Reminds me of some of the references that banks used to give which were along the same lines.

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My photo
By Matrix
25th Sep 2019 13:12

Businesses that are not operating legitimately don’t tend to have solicitors or accountants.....

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