| We have a legal obligation to report to Customs and Excise / NCIS any such suspicious transactions. The definition of a suspicious transaction is one that raise "an unconfirmed belief" or "a fleeting inkling". What the UK law require? 1. The law requires us to monitor any unusual or suspicious transactions of any size taking place where we have reasons to believe the money is derived from illegal activity. 2. The law also requires us to keep full records of all transactions of ECU 15,000 (about £10.000) and above, together with copies of identification provided. Identification may be in the form of a passport, driver's licence, credit / debit card. We are unable to process any transaction where this information is withheld. What Naira Exchange requires? 1. All transactions of £1000 or over must be accompanied by a Large Transaction Form. 2. Any transactions totaling £1000 and above over the last 7 days must be accompanied by a Large Transaction Form. Reporting Procedures There is a statutory obligation on all Naira Exchange employees and their agents to report suspicious transactions to the Authorising Centre. By knowingly failing to report any suspicious transactions or deliberately breaking large transactions into smaller amounts to avoid completing the Large Transaction Form, breaks the law and may result in imprisonment a fine or both. | 
