Money Frozen

[CrossBones]

I have been living in Thailand and am in the process of relocating back to the UK.

I sold a very large sum of crypto on an international exchange and put it into my UK bank.

This is not taxable in Thailand as its never been in Thailand.

I transferred the money to a business broker in the UK and its all been frozen.

I need to find a lawyer apparently the funds could be hold for 18 months or even indefinitely i need to explain the source of the funds, its nothing dodgy just crypto ive held for many years.  Its basically all my life savings. I was meant to buy a business with it and it all got frozen. Can anyone recommend a UK lawyer here in Thailand to help me.

[JBChiangRai]

14 minutes ago, CrossBones said:

I have been living in Thailand and am in the process of relocating back to the UK.

I sold a very large sum of crypto on an international exchange and put it into my UK bank.

This is not taxable in Thailand as its never been in Thailand.

I transferred the money to a business broker in the UK and its all been frozen.

I need to find a lawyer apparently the funds could be hold for 18 months or even indefinitely i need to explain the source of the funds, its nothing dodgy just crypto ive held for many years.  Its basically all my life savings. I was meant to buy a business with it and it all got frozen. Can anyone recommend a UK lawyer here in Thailand to help me.

 

What is a business broker? Who froze your funds?

 

You may need to provide bank statements showing when you purchased your crypto and what you paid.  If you're a UK citizen, they will probably want to tax your gains too.

[Briggsy]

You do not need a lawyer.

 

UK Banks are obliged to prevent withdrawals if they believe there may be suspicious activity. You need to explain the source of the funds and demonstrate you are not in breach of any money laundering legislation.

 

The bank will be expecting your call. This is very normal.

[hotandsticky]

There is more to this story than the content of the OP.

[PJ71]

20 hours ago, hotandsticky said:

There is more to this story than the content of the OP.

Total speculation, how on earth do you know this?

[hotandsticky]

29 minutes ago, PJ71 said:

Total speculation, how on earth do you know this?

 

 

So you think the OP has the full details?

 

Come on...

[DaRoadrunner]

What does this thread have to do with Thailand?

 

But since you ask:- Banks don't like Crypto as it competes with their business.

[JBChiangRai]

The OP has been exceptionally foolish.  AMLO kicks in at GBP 10,000 or unusual activity.

 

He should have discussed with a bank branch manager first and got approval to do it.

 

Now the bank will want to see where and when he bought it. 
 

HMRC will also want their cut, I think it’s CGT but I’m not sure.

[jippytum]

You deposit has triggered a money laundering alert. 

In the first instance you need to contact the bank and  ask why the money was frozen and what do they require to release your funds. 

You certainly don't need a Thai lawyer confusing the issue. 

[PJ71]

40 minutes ago, hotandsticky said:

 

 

So you think the OP has the full details?

 

Come on...

I have no idea, how could i possibly know?

[hotandsticky]

10 minutes ago, PJ71 said:

I have no idea, how could i possibly know?

 

 

Exactly

[PJ71]

6 minutes ago, hotandsticky said:

 

 

Exactly

exactly