What are unusual transactions?
|
  |
|
|
| Author |
Message |
leese
Apprentice
Joined: 02 Mar 2009
Posts: 2
|
 Posted: 09/04/11 - 10:01 Post subject: |
 |
|
| Few days ago I signed mortgage agreement with my lender and I must say that I signed it without reading it. Yesterday I decided to read the contract and I saw that my lender stated that they have the right to investigate my account in case of suspicion of any unusual transactions. Can you explain what unusual transactions are? |
|
|
Back to top
|
|
|
|
 |
erek
Apprentice
Joined: 05 Apr 2005
Posts: 7
|
| Posted: 10/03/11 - 22:25 Post subject: |
|
|
| I don’t think that this is something you should worry about. This is something they probably needed to do because law says they should. Unusual transactions are commonly defined as transactions with no source of income, and if your lender suspects that you have unregistered income, they are obligated to notify the authorities. For example, if you have millions on your account, and they suspect that you do something illegal, they can investigate your account without any legal obstacles. |
|
|
Back to top
|
|
|
|
|
|
| |
All times are GMT
|
| Page 1 of 1 |
Related topics: | |
|
|
