Originally Posted by
smallbizzguy
Just received a call on my cell from AMEX business from the number 866-648-6163
She asked me four questions, said this was a recorded conversation, and that the questions were optional for me to answer, but if I didn't want to answer any of the questions, I had to say "I do not wish to answer this question"
1st question: "do you purchase money orders or cashiers checks in the amount of $1,000 or more"
2nd question: "have you transferred more than $1000 via cashiers checks to overseas vendors"
3rd question: "If I arrived at your place of business and wished to purchase over $1,000 in cashiers checks, would you be able to do that for me?"
4th question: "If I arrived at your place of business and wished to transfer over $1,000 to my friend in California, would you be able to do that for me?"
odd.... Not sure if this is a manuf spending check, or a money laundering check. I've recently increased spending on my plum card to around $95k per month, (was averaging around $50k) other than that, no other changes in my usage. I've been an AMEX member since 2003.
edit: a mod merged this post, I searched and didn't find this thread. Thanks mod!
I think this is nothing to worry about. Due to the lack of an amount of large payments (and based in Germany) I haven't received such a call.
I would I have received such a call - it's a sign of wealthiness.
But from my knowledge about how the banking regulation in Germany and US work I can *assume* that the call is related to a
distinction between a bank and a non-bank.
If you would operate a bank there is a large bunch of regulations (know your customer principle) and new blablabla requirements to cope with.
This is all related to that new regulations of anti money-laundry regulations. And the comparatively new opinion that the customer has to proof that "large piles of money" are his own. In former times the customs at the border had no right to ask you how much money you have with you.
Now you have to declare it and sometimes show receipts, bank statements and so on to proof that you are the eligible owner.
OT: Free market society has deteriorated in such a way that even a large luxury retailer in Germany should write down your name and address if you are buying goods for more than 12,500 Euros. And paying cash.
However he has has no right to copy your ID - it's strictly forbidden.
Therefore it is nothing to worry about.
Only a distinction if you have a business, something like a MoneyGram/WesternUnion/Anyothercompanynameyoucanimagine transfer agency or a bank.
You can start reading here:
http://www.bis.org/publ/bcbs85.htm
If you would be a bank I am sure they would send you lots of material to educate your employees about the danger of money-laundry and how to detect it.
Hope this helps
Best regards