Wrong residence country

[GrumpyMess]

Offshore Ltd with a bank account. The bank send an email to update the company and UBO information if there are any changes. There is an error introduced by a bank employee - wrong ubo residence country, until now it was luck to cheat the crs, but now there is a requirement to confirm or change the data. If the confirm option is selected there is no need to present the supporting documents, however it will be cheating. Is it a good idea to cheat the bank or it is not worth it?

 

[Sols]

Never lie to your bank.

Whatever short term benefits you think you have are massively outweighed by the repercussions for if/when the bank finds out (closed account, 30 days to transfer to another account in the name of the company, or frozen assets pending court order or investigation).

 

[JackAlabama]

Never lie to your bank.

Whatever short term benefits you think you have are massively outweighed by the repercussions for if/when the bank finds out (closed account, 30 days to transfer to another account in the name of the company, or frozen assets pending court order or investigation).

Yes, the very sad state of affairs.