I found something interesting in reference to Poloniex new press release "Improving Our Support Community"
According to Money Services Businesses, posted by FinCEN a division of Department of Treasury:
MSB Registration Number: 31000091844018
Registration Type: Corrected Report, Re-registration
Legal Name: Poloniex, Inc.
If Poloniex is indeed flagging suspicious activity as stated in the latest press release:
Withdrawals/Awaiting Approval
We are legally required to know the identity of our users and to maintain strict controls over how funds leave our platform. In addition, our auditing system flags for specific activity to ensure the safety of your funds. While we cannot reveal precisely what triggers such flags without compromising the integrity of the system, we want to highlight how our efforts to keep our platform safe and secure can degrade the user experiences at times. For example, when our system flags an activity as suspicious, the ensuing investigation and resolution usually requires human intervention, which takes some time. As we gain more users, they naturally trigger more flags that require more of these slow human interventions, so more human resources are required to handle the volume.https://www.fincen.gov/sites/default/files/shared/report_reference.pdfAccording to FinCEN in order to file a SAR report the transaction must be greater than $2,000 so anything below that serves no logical reason as to why Poloniex would place a hold on a withdrawal request.
According to FinCEN these are possible red flags to give Poloniex a basis for holding our transactions
Red Flags
There are a number of possible factors, or “red flags,”
which signal that an activity or transaction might be
suspicious. Observing a “red flag” should trigger some
questions, such as: 1 Is the amount of the transaction unusually large for
the typical customer or for the MSB?
1 Does the customer make the same or similar
transactions more frequently than normal?
1 Does the type of transaction seem unusual for the
customer or the MSB?
Examples ■ Customer uses fake ID. ■ Two or more customers use similar IDs. ■ Customer changes a transaction after learning that
he or she must show ID.
■ Customer conducts transactions so that they fall just
below amounts that require reporting or recordkeeping.
■
Two or more customers, trying to evade BSA requirements, seem to be working together to break
one transaction into two or more transactions.
■ Customer, trying to evade BSA requirements, uses two
or more MSB locations or cashiers on the same day to
break one transaction into smaller transactionsI had a Level 1 authentication so none of those would fit my account status or activity, does yours?
I am no lawyer but if more people post similar issues with "awaiting approval" I will further investigate this matter in terms of consumer protection laws and breach of any statutes/regulations set by the governing entity. Together our voice is stronger.
~Mike