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HUGGI79 wrote on Sun Dec 17, 2023 11:52am:
Things have changed in 12 years Steve. It is not just Sabadell it is nearly all banks including UK ones. It is a refection on society now as it indicates the amount of fraud and money laundering that is taking place. As another post stated. Designed to catch criminals it is Mr. & Mrs. Bloggs ...
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...who have been drawn into the net and inconvenienced.
I still work in Financial Services in an advisory/consultancy capacity.
It's not reflective of the amount of money laundering etc at all - it's a reflection on the legislative powers that be wanting to ensure the banks cover their own backsides to prevent some of the previous news stories we've seen about US banks / HSBC not taking a strident enough approach to prevent criminals flowing money through bank accounts re-appearing.
99.9%+ of us are not money launderers and are caught up in idiotic requirements that waste our time but serve to prevent nothing at all. If I wanted to money launder, I could do it quite easily even now - but I have no interest in doing so.
