Don't you love that society now presumes, automatically, that you are a criminal?

Probably bank lobbyists got this law passed. This money laundering thing is probably just a coverup for the real motives behind passing that law. The banks want to keep your money in their banks so they can earn interest on it for which they only let the account holder get a tiny fraction of (if in a savings account). They usually even sometimes require people pay a fee for checking accounts, which somebody would use to regularly transact business with. But in general, banks profit from you using their banks to store your money in, so do not like people having large sums of cold hard cash being kept under their mattresses, when banks can be earning interest on that cash if it is sitting in their vaults. And if people don't trust the banks, or don't like this arrangement, and the banks aren't offering enough to entice people to put their money in their vaults, the banks have probably figured out they can just get a law passed to force people to put their money in their banks, or else get called a criminal if they don't and save enough money that a bank would care about not having in their vaults. Genius move by the banks when you think about it. But pretty messed up.

No so. The position is that you COULD be money laundering. The vast majority of people would never carry £10,000 in cash. That someone has £10,000 in cash is enough to arouse suspicion. Most people that carry large amounts of cash are trying to conceal how they got it or to evade tax.

It not only applies to car dealerships, it applies to EVERYONE dealing in amounts of cash over £10,000, including all banks. And in most countries. It's hardly difficult to explain where it came from, is it? And it has certainly helped to put a brake on criminal money laundering.

They are not obliged to inform the police, but merely enquire where it came from. If you can explain, the police never find out. If the business doesn't believe the explanation, it is required to tell its money laundering supervisory authority, NOT the police - in the case of a car dealership, that will be HMRC.

This is not exactly going to bother you very often, is it?

Not true! There are laws worldwide on money laundering and carrying £10k if you can prove the money has been legally earned there is no issue, people that walk around with £10k in cash means it could be from crime, stolen etc and anyone accepting that money is committing a crime ....when there is no need to carry cash of that amount as you can transfer that amount via a bank card( proving it is legal)

If the money is legit then there are no issues.

That is a law supposedly to stop terrorists and criminals from laundering their money. It has been that way for a long time. It is bullcrap, but that's how it is in this new world run by oligarch criminals and the corporations they hide behind.

It presumes because anyone who walks around with that amount of cash is either ,not paying taxes, working under the table, drug dealing, stolen, and so on. Most of us can prove where it came from.
I don't have a problem with that.
UK

Welcome to the new way of things. Here in the USA, cops are authorized to seize your assets as long as they can claim that they have reason to believe that you're involved in illegal activity (you can sue to get your assets back, but it costs a lot of money and time, and cops tend to just confiscate cash, the cost of which it'd take to get it back makes it almost not worth it). I hate to sound like a tinfoil hat aficionado, but I honestly believe that governments are pushing for a cashless society. None of that Mark of the Beast nonsense, but it's my belief that governments want to have greater control over how wealth is transferred, to the point where they can track it.

But yeah, it's effectively a legal shakedown. Even the mob had more reasonable standards.

The police/ In the US, any cash transaction must be report to the IRS, not the police.