Drug dealers, gun runners and a local corner shop
What do these have in common? Nothing we hope you say but that is where you might be wrong.
You may have recently read about the secret whistle-blower at HSBC who highlighted a list of British people with offshore accounts in Jersey to the HMRC. Amongst others on this list we understand are a drug dealer who is now living in Venezuela, a British citizen who was convicted of possessing several hundred weapons and a green grocer from London’s East End.
We hear stories every day about good, honest, hardworking local business owners who have to jump through too many hoops when they are dealing with their bank but it seems that this is only a result of the amount of money – the more money the less hurdles!
As Paul Reichmann once said; “if you owe $1 billion to the bank and can’t pay - it’s the bank’s problem; but if you owe $100,000 and can’t pay - it’s your problem”.
If you are a local business owner that has to jump through hoops when dealing with your bank, we would love to hear from you.
By the way, we are not against “money laundering procedures” we are only against the loss of common sense.