Hello,

I am US citizen and I would like to wire my mom (non US citizen) some money from my checking account.
Is this possible? Any red flag?
What's the maximum amount I can wire in one transaction or more? I intend to wire about 70K-80K.
My broker told me that this is money laundering? According to the definition of ML, it shouldn't be...

Thanks in advance.

JZH

hi accountessa

I am a US Citizen and I've wired money to my mom in China before, and I had no problems at all. I don't think wiring money to your relatives abroad will be an issue with any government agency, and there normally is a limit on how much you can send in one transaction, please double check with your bank to find out more, and from my prevoius experience on sending money to my mom, as long as you don't send onver 10k per transaction, there will be no problems and you wouldn't raise any red flags. Hope this helps.

accountessa

JZH,

Thanks for replying. I need to wire much more than 10K, it's about a surgery taht one of my relatives needs to get.
I asked a bank if there is a limit, they said no, but now I have another question. What kind of red flag should I be worried about? I have the money in my cheching account coming out from a brokerage account I've bee doing business with for a few years now.
So I paid all the taxes neccessary .

Thanks again.

JZH

accountessa

I'm not sure exactly what the rules and regulations are regarding wiring money overseas, but I had a friend who worked in a bank and he told me that whenever someone wires more than 10k at a time overseas, the bank is required to file a report with the FBI, CIA, and some other government agencies, and they will start a investigation regarding the sender and the receipient, since this is a new rule they came up with after 9/11, to prevent international funding of terrorism and money laundering. I'm not too sure about whether this is true or not, but just be sure to get ready to answer some questions if it's true.