That's it Mathi, and it did occur to me that the tradition might not be widely known outside the Uk.
I was at a casino one New Year's Eve and was just going to the roulette table when the lights were suddenly dimmed and the music for Auld Lang Syne started up. Everybody crossed arms and, as I had a few £20 notes in my hand, I put them up my sleeve. Cut to the end of the music and everyone goes their separate ways. I go to retrieve the money from inside my sleeve and....hey presto! It's gone:-(