Hello, I'm from EU, and today I've receiver more than $1000, and PayPal sent blocked my account and sent me an message that I have to fill form about Anti-Money Laundering.So can someone please explain me what is this? Thank you in advance.
just send your id. give to them. your personal id or passport. If they don't open your account, you can go to bbb tell to bbb, your account was block bay paypal with no reason.
Why not trying to get a real merchant account from one of the renowned payment processors in your country (I could recommend some, but they are dealing with German businesses only, so not sure if this will help you) ? PayPal should be always just an intermediate solution or for very small businesses (with under ten sales per month).
Money Laundering is basically in this case, using Paypal as a platform to clean 'dirty' / illegally obtained money. An example of money laundering could be like a drug dealer who earns illegal money then use that money to pay 'non-existent' products through paypal and then that money would be paid by paypal to the seller which would become clean where the money may be used to pay for terrorism causes. Under the Anti-money laundering act, it requires everyone who uses paypal as a payment platform to identity themselves and the way to do that is to submit their Photo ID and identity. This is part of the Get-to-know-your-customer policy. Maybe this http://www.lawsociety.org.uk/newsan...aigns/view=newsarticle.law?CAMPAIGNSID=217590 might help
Thank you, but if I follow their instruction what will happened with my information that I'll provide? I mean do they report for me in EU (or my country), that I have over $1000, or the information is only for them? (My money are not "dirty", they are from affiliate marketing, and they are 100% legal)
They need information just for themself. If your money 100% legal then no need to worry about that. DON.
Like deluxdon said, as long as you do not do anything wrong, the information would be kept only at Paypal's end. However if you happened to be involved in money laundering, they will submit your information to the respective authorities. For the time being, it is to ensure that only 'real' people sign up for the account. You do not know how many people here at DP who uses fake information to sign up for a paypal account and assumed that paypal is dumb enough to allow them to continue using their account. It is like you applying bank account, the bank will most likely need to see and probably make a copy of your IDs before allowing you to open an account.
OK thank you so much, but when I enter information do they report that information in EU or my country(in case everithing is OK with my money)?Can I be 100% sure that they will not report? Here is my message: "This notice is a reminder. We are sending you this notice because you have received more than 1,000.00 EUR in total payments to your PayPal account. PayPal is required by law to comply with European Union Anti-Money Laundering regulations to collect information from customers when they receive more than the set limit in total payments. Please log into your account, go to the Account Overview page, and follow the instructions there about how to provide the required information. These steps need to be completed as soon as possible to comply with this regulation."
In Europe the anti money laundering methods with electronic money sites like PayPal are really different that your problem. Remember that PayPal block accounts every time without knowledge...to take personal details..and don't forget that PayPal is an US company (Patrioct Act involved)...yes I know that in Europe is Luxembourg, but in practice the boss is the boss = PayPal USA. You can read about it in European Directive 2000/46/CE, every that you can know about ewallet systems in Europe.
Don't worry I receive the same message that they limited my account one night, the next morning I wake up they settled the issue without me doing anything.
If you are not doing anything legally wrong in your country, why are you so worried about them submitting your details to your government ?
I'm not worried, but if they report me I will have a couple of a problems, because I promote products from US.The US system and the system in my country are different.(Even accountants here don't know what is affiliate) So do they report me? Anyone to know ?
If you've been making money through affiliate programs then it wouldn't be too hard to explain if you were to be questioned about it. Affiliate/affiliation have different meanings and it's not just a US based term.
For me, they sent a pin number in the post, which I etnered, then ti was fine, just follow the instructions.
I'm not talking about pin, I've already received my pin, but after that I have limits, so to increase my limits they want from me my id and address proof
Sounds to me you got something to hide. Anyways, just verify it and all will be ok, however if you are hiding something, you better think quick.