ali benarbia's studs
Well-Known Member
Really, I thought that s the way it always worked.
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Wenger "Clubs Must Respect Rules"/FFP “not normal”
- Thread starter Cityfan1977
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Really, I thought that s the way it always worked.
gordondaviesmoustache
Well-Known Member
I heard of a Chinese takeaway in Accrington that was laundering cash though a bank account - and the silly bastards were paying in round sums on their only banking of the week. 20 grand exactly, everyReally, I thought that s the way it always worked.
Monday.
It would be as stupid as that, if that’s how it works.
Chris in London
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I heard of a Chinese takeaway in Accrington that was laundering cash though a bank account - and the silly bastards were paying in round sums on their only banking of the week. 20 grand exactly, every
Monday.
It would be as stupid as that, if that’s how it works.
It’s not that unusual for cash businesses to bank round figures consistently, for instance you bank 5k exactly of your total takings of £5374.22 and leave the change for next week’s float.
But 20k a week? That’s a lot of egg fried rice they’re shifting.
gordondaviesmoustache
Well-Known Member
If the business is well run they will have a cash float, extraneous to any takings and treated for banking purposes as such.It’s not that unusual for cash businesses to bank round figures consistently, for instance you bank 5k exactly of your total takings of £5374.22 and leave the change for next week’s float.
But 20k a week? That’s a lot of egg fried rice they’re shifting.
Plus, as you say £20k is a huge sum for a takeaway. Not saying there aren’t takeaway in the land that take £20k pw,(in fact I’m owning w that takes £25k pw) but not, I strongly suspect, in Accrington.
Chris in London
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If the business is well run they will have a cash float, extraneous to any takings and treated for banking purposes as such.
Plus, as you say £20k is a huge sum for a takeaway. Not saying there aren’t takeaway in the land that take £20k pw,(in fact I’m owning w that takes £25k pw) but not, I strongly suspect, in Accrington.
Sure, but the float won’t necessarily be the same figure every week. Some bank a regular sum because the bank likes to see a regular sum being paid in every week. It means they are less of a credit risk if they ever need borrowing, like for refurbishment, new premises, expansion etc.
the Accrington example does seem especially dodgy but I’m not sure you can infer money laundering from nothing more than a regular round figure cash deposit.
gordondaviesmoustache
Well-Known Member
The float should be the same, allowing for adjustments during busy periods, but it should be that sum, rather than the sum banked that (ordinarily) would be a round figure e.g. I’ll up the float by a grand because it’s Christmas week; that would mean the banking reducing from (say) £5467.87 to £4467.87 etc... They could drop the float by a grand (for security purposes) in Jan and over-bank correspondingly by a grand on that week’s take; and they are back to square one.Sure, but the float won’t necessarily be the same figure every week. Some bank a regular sum because the bank likes to see a regular sum being paid in every week. It means they are less of a credit risk if they ever need borrowing, like for refurbishment, new premises, expansion etc.
the Accrington example does seem especially dodgy but I’m not sure you can infer money laundering from nothing more than a regular round figure cash deposit.
On your second point, I strongly disagree on the inference, and as an aside, it would be interesting to see who has the most experience of the field of dodgy cash businesses. On this rare occasion, I seriously fancy my chances!
What? Accrington is the Chow Mein capital of Ramsbottomshire.If the business is well run they will have a cash float, extraneous to any takings and treated for banking purposes as such.
Plus, as you say £20k is a huge sum for a takeaway. Not saying there aren’t takeaway in the land that take £20k pw,(in fact I’m owning w that takes £25k pw) but not, I strongly suspect, in Accrington.
Chris in London
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The float should be the same, allowing for adjustments during busy periods, but it should be that sum, rather than the sum banked that (ordinarily) would be a round figure e.g. I’ll up the float by a grand because it’s Christmas week; that would mean the banking reducing from (say) £5467.87 to £4467.87 etc... They could drop the float by a grand (for security purposes) in Jan and over-bank correspondingly by a grand on that week’s take; and they are back to square one.
On your second point, I strongly disagree on the inference, and as an aside, it would be interesting to see who has the most experience of the field of dodgy cash businesses. On this rare occasion, I seriously fancy my chances!
on the first point, I disagree but I’m not sure that this thread is the place for a more detailed discussion.
on the second point, perhaps you do, but it follows that I have more experience of legit operations :)
gordondaviesmoustache
Well-Known Member
More than happy to concede that point, and otherwise, I’m obligedon the second point, perhaps you do, but it follows that I have more experience of legit operations :)
better dead than red
Well-Known Member
The float should be the same, allowing for adjustments during busy periods, but it should be that sum, rather than the sum banked that (ordinarily) would be a round figure e.g. I’ll up the float by a grand because it’s Christmas week; that would mean the banking reducing from (say) £5467.87 to £4467.87 etc... They could drop the float by a grand (for security purposes) in Jan and over-bank correspondingly by a grand on that week’s take; and they are back to square one.
On your second point, I strongly disagree on the inference, and as an aside, it would be interesting to see who has the most experience of the field of dodgy cash businesses. On this rare occasion, I seriously fancy my chances!
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