Letters of Acceptance for Money Transfer Money Laundering
Most reputable money transfer companies will insist that you write a letter of acceptance for money transfer as valid documented evidence showing your approval of the money transfer made from your account to the given recipients account. This is a very significant letter that you should only write when you are certain that you actually want to transfer the money to the recipient in question. More so the recipient should be a person whom you know. Money laundering nowadays is quite a common crime but often it comes in many different ploys that you may not realize that you are actually participating in it until when it is already too late.
Money transfer scams
Money laundering or money transfer scams generally may be difficult to spot as the scammer will make it almost look like a job he is offering where he uses your account to transfer money to other accounts giving you some kind of commission at the end of the day. Transferring the often stolen money through your account to the account given by your online employer is usually a way to cover their tracks making it more difficult for the money to be traced by the authorities. The problem is they leave you at the risk of being caught and charged with participating in money laundering when you didnt even have the slightest clue. Your savings will also be under threat because he can easily clean out everything once he has your bank account details.
Considering that youll have written the letter of acceptance for money transfer yourself, it will be very difficult to convince the authorities that you did not know you were getting involved in money laundering.
As it is often said, when the deal is too good to be true, perhaps it isnt! Think about it, very few people out there will be willing to allow you to transfer their money from one account to the other when they even dont know you in the first place. The fact that they pay you a handsome amount of commission can be blinding but you should know better, anyone who is asking you for your bank account details is up to no good.
Writing the acceptance letter
Then when writing the letter of acceptance of money transfer, it is essential that you remember to include the correct details of the payee to ensure that the money gets to the right person. Your signature will be important in making the letter to be considered authentic but never forget that it should only be written when you are sure of the person whom you are transferring the money to.
Generally be on the lookout for money laundering scams and avoid them as best as you can. If you realize that you have already been tricked into giving your bank details to someone you dont know, consider changing the details immediately to prevent them from using your bank account in whatever scam they are involved in. You can further contact the company you had sent a letter of acceptance of money transfer to, informing them of your situation for help in stopping the transfer.