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Money laundering question
What is the maximum amount of cash I can use to purchase an article without being reported for money laundering?
There is no maximum figure or amount of cash and you will only be reported for suspected money laundering if someone has a suspicion the money you are using results from the proceeds of crime.
A lack of any history for depositing a large sum of money, particularly cash, may lead to such a suspicion.
Much will depend on who you are buying from.
Professionals such as bankers, accountants and solicitors are expected to try and fact-find if they are suspicious of the source but others might not so closely enquire where the money comes from.
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