A friend of mine has asked to put ￡10,000 in my bank from his Dormant business account, to then transfer to his account, with a small fee paid to me for doing so. Is that money laundering? Sounds a bit dodgy to me!

Ha ha you're about to get burned here's what they do: get your account to put 10k in then they tell you there a problem with the account to forward the money too, and ask you to get a cashiers check to do money orders or western union and tell you call as soon as you wire the money.... Then they reverse the $10k in your account taking it back and you are -$10,000 in debt and owe it.

AND

It's all a perfectly legal loophole!

Sounds fishy. Why can't he just deposit the money from his business account straight to his account? There has to be a reason he wants that "buffer" (you) in between.

Personally, I would stay away from it. You may stuck with the bill for the ￡10,000 since it was deposited into your account, and you would be responsible to go after your "friend" to be reimbursed.

don't get involved. yes, something is going on.

sounds like it to me - YOU are the one the tax guys are going to question - not him