Topic: Mt.Gox AML/KYC Process Explained - page 9. (Read 71706 times)

Hi

Yes you are right Level 0 does not require any AML documents, however, due to Dwolla's new TOS and since we are still waiting for them to give us a "Green Light" in continuing doing business with them we had to change our AML requirements. (One of my colleague will update the support page for that https://support.mtgox.com/entries/20919111-aml-account-statuses).

However, and I am sorry that you did miss this announcement, but we release on this Forum, FaceBook, Twitter, Google+ and on our Mt.Gox Homepage the following Press Release https://mtgox.com/press_release_20120518.html explaining our new terms when it comes to AML and DWOLLA. Also we sent an email notification to all Dwolla user with the above Press Announcement.

So bottom line if you want to use Dwolla you need to be Level 1. If you prefer not upgrading your account to Level 1 and Keep your Level 0 account for your needs you still can withdraw your money but need to use the international wire method.

Hope this answer your question.

I am in the same situation, last month I tried to withdraw a couple hundred dollars to dwolla.  First the transaction said it was confirmed, then it was cancelled without even notifying me.  A week ago I logged into Mt. Gox only to discover that the funds were never transferred.  I started reading about the "verified account" nonsense, I couldn't understand why a transaction for $200 bucks would not be allowed.  I decided just to get my account verified.  After a three day process I finally had my account verified, I initiated the transfer out and STILL nothing has hit dwolla. 

I have no idea what is going on at Mt. Gox but it cannot be good.  This process used to take minutes, I have been trying to get my money out for over a month now.

Like we explained you on another thread your money has been sent last Monday. Please confirm.

Regards

I have been trying to withdraw a few hundred dollars from MtGox. My account wasn't verified, because the FAQ says I don't need to be verified.
https://support.mtgox.com/entries/20919111-aml-account-statuses
Specifically "No verification needed (Level 0) - All accounts are initially Level 0"
"Daily withdrawal limit (24hrs): 1,000 USD (or equivalent) "

These days, I try to withdraw to Dwolla, and I thought everything was going smooth. But the $$ still haven't come in to dwolla, so I ask why.
MtGox rep replied that I need to provide document to become verified. This is absolutely not necessary as their own FAQ stated that I can withdraw up to $1000 a day without becoming verified.
It's been 3 days, and my funds are still stuck in MtGox. I've since sent them the documents.
If MtGox keep doing this, all their customers are just going to other exchange sites.

I am waiting for an international withdrawal (a big one) which I have initiated on the 11th of June, and it looks like it hasn't even been "processed" yet

Can someone please let me know what is going on (ticket #29927)?

I decided not to get verified on MT.GOX since it would raise the withdrawal limits.
And those are as far as i know not configurable.

Now that didnt matter much since the limit is 400BTC and i lost 381 that for some
reason got transferred out without anyone logging in (according to logs from MT.GOX).

And MT.GOX blatantly did not even try to answer my question about how it happened
https://bitcointalksearch.org/topic/mtgox-account-hacked-lost-2k-usd-mtgox-will-not-explain-how-89142.


However, this thread is about AML/KYC and to get that to work you need configurable
withdrawal limits.


//GoK

I cannot seem to get verified by mtgox since starting this process on June 6. If there is a problem with the process, I would like to know. Otherwise, are there any other exchanges that accept Dwolla for deposits?

Today I received my money (22 days), thank you for help.

Panda Mouse.

It is explained somewhere on this forum that 5% of our International Wire are also "touched". This said June 1 is old and I would like to check what's going on with this withdrawal. Could you please give me either a ticket number of or your Reference number of your Withdraw (Sent by email).

LOL @ how you would love to be able to sell our personal info to the highest bidder, if not for those pesky privacy laws. 

Is a long waiting period for international withdrawal (I'm waiting from June 1) is due to large number of cases of AML?

Panda Mouse

Wrong, we do not assume anything, we are just sticking to the fact we have in possession. Each countries as its own set of rules and being in Japan we are obliged to follow them. Remember Japanese Law are really different from Thai or US Ones.

No need at this time, it will be cleared soon, we have a rather large amount of AML waiting to be processed. But don't worry we won't forget you.

I believe it has already been made clear and that you understand the situation. But here it is again for you to read. Also please understand that I cannot give all the details on what have been done here on this forum since we would like to keep your personal information as private as possible.

1) We can't explain all the details on how do we "Flag" people or how our process work. If we do so publicly we will then offer a unique opportunity for "Bad" elements to bypass or security. So I am sorry but you will never have a clear answer on how our security features works on this matter. Please understand we are doing so in order to protect people assets including yours and our system integrity.

2) What you did is a text book case of money laundering for us based in Japan (Remember we are in Japan). I am not saying you were trying to do something bad, and you have been cleared for this. But Check all Best Practice on this matter and you will see immediately what went wrong. To give you an example, I am French, Living in Japan I own an account in France and Japan with Visa Cards attached to them. Every single time I am sending money from France to Japan, the Japanese Bank call me to check WHY ON EARTH I am sending money to myself? They won't clear the transfer if I won't give them the reasons. Things are even more complicated when I receive money from other people or companies. So in your case you can understand that some flagged has been raised.

3) What you did is against our TOS, TOS that you agreed upon. TOS that has been written by our Law Firm in compliance with Japanese Law.

4) You refused to comply with basic AML/KYC. Sorry but it is how things work, once again what you did is text book case for basic money laundering and we have strict instructions on this matter and are ask by our bank to follow them if we want to use their service. Being reluctant to submit "Proof" and proper documentations did not help your case and increased potential problems with our Bank and Japanese authorities.

5) Not being capable to verify your identity and the clear connection with the person whom you wanted to send the fund give us no other choice to report this matter to the police here in Japan. We are not the law and only the Law can decide what can be done until things are cleared. Also failing to report any suspicious activity to Japanese Law can put us in trouble and ultimately force us to stop our activity temporarily or indefinitely.
Without much solutions in our hands and your continuous refusal we had to move forward. As for today you gave us all necessary documentation and "proof" to clear your name on this matter and the case is closed. The Japanese Police has no involvement in this matter at this point.

Conclusion:
1) You do not have to worry for this matter as far as Mt.Gox is concerned.
2) You do not have to worry about the Japanese Police for this matter. Case Cleared and Close.
3) We cannot communicate any information regarding pending case, ongoing case, past case unless we are requested by law to do so. Failing to this basic duty will be heavily sanctioned here in Japan.
4) We cannot give you the details on how things works when it comes to Money Laundering for example since it will help "Bad" elements to by pass our security measures.

I sincerely hope that this post will put an end to this matter and clear your mind.

Regards

I uploaded more, but received no acknowledgement. Do I need to open a ticket?

In an ideal world we would love to kill all these intermediaries (Banks and equivalent) that are in fact making things more complicated and more expensive... But until then we do not have much choice.

I have never cashed Bitcoins out for fiat, but now that I can't it makes me wary. I withdrew my Dwolla cash since I cannot deposit it at MtGox. I get credit card applications for nothing more than a credit check. Why is this becoming such a hassle? I hope this gets cleared up soon.

People have to understand one thing, we, and this will apply to any other Exchange at some point, have to follow government and banks rules. Do we like these rules? Not always. Do we enjoy enforcing them? Hell no! Do we have a choice? Not at ALL!

Unless all of you start mining BTC, uses these Bitcoins to pay stuff in Bitcoins and never ever cash out or buy Bitcoins, we will have to follow these rules, coz at ANY GIVEN TIME, if we are not capable to give the proper documentation that a Bank for example need for a deposit or a withdraw they will use this opportunity to shut us down from using their service again. And I am not talking about huge amounts there but if they want to be a pain in the XXX they will and this even for $10.

Banks rules are different from one Bank to another and they totally control us since we NEED them to help you to cash in or out. They are totally closed and will never give you any reasons or details on why a wire is blocked or why they start investigating a certain transfer. And with their Terror list, if you are unfortunate enough to bear the same name as a person in this watch list, hell will fall over us.

At the beginning they did not really care about us, so we could do pretty much everything we wanted, opening an account there, offering such service, but since :
1) We grew and started to handle a lot of money
2) The popularity of Bitcoin and the Risk for them

Banks are scrutinizing our every move.

Now sure you can go to another exchange and we totally understand that, but if tomorrow XYZ Exchange start handling as much as we are handling, they will face the same problems as we do and they will become as "unpopular" as we are.

So at this point there are not many solutions. And our goal is to make sure that we are as CLEAN as possible in the eyes of these people in order to continue to help Bitcoin to move forward. Sometimes we are rather "aggressive" on these aspects and ask more than what an average bank may ask or need clearer documents, but this is in NO WAY to bother you but just to tell Governments and Banks that we are doing things by the books and that we are in no way criminals!

We know that there are many things that need to improve, and we are working on it, unfortunately and since we are working at an international level there are many things that need to be done at the same time which is slowing us down. Things take time and time is something that with Internet and IT Success have radically change in the eyes of many people where things are moving at Light speed, but when it comes to Banks and Government, time is set on another scale that frustrate all of us. The best example I have for you, and I cannot go too much in details, is when we explain to a Government entity what is Bitcoin and what would be the perfect set of rules that we must follow to make sure that we can continue our business in peace. After our lawyer gave them all documentation, met them at several occasions, we asked, when can you give us an answer? They replied : We cannot commit to any time on this matter and it will take as much time as needed to get back to you...

So yes we understand your frustration, yes we are working on improving this Process, Yes we have some solution in mind to help you, but remember that we do not do that to bother you, but we do that in order to protect everyone's assets here and make sure that the service is running smoothly. And more Bitcoin will become popular more things will get complicated. After all if any Government or Banks does not need to make Bitcoin illegal to stop it, they can easily do it by forcing Exchange out of the equation and making impossible for people to cash in or cash out.

PS Sorry for this long speech and for the many mistakes it may contain, I wrote this on my way to the office.

I'm with cbeast, I've been doing business with Mt Gox for a long time, and all they're doing is treating me like shit over this AML process.

I've provided everything they've asked for, and now they're asking me for a LOCAL GOVERNMENT ISSUED, NOTARIZED PROOF OF RESIDENCY.

I live at an apartment complex, and let's just say that the office staff are less than competent.

I can't get them more than I've already given (which is photocopies of Driver's License and a signed Proof of Residency from my apartment complex, as well as my last invoice) but yet they are still denying my application.

When I requested my money back so that I could close my account and just go do business elsewhere, they denied that also, and said "we would really appreciate it if you continued the process."

Whatever, i'm so annoyed by them.

I don't know what is happening with your verification system, but I was denied because you did not acknowledge a bill I uploaded. I uploaded another bill so I hope it gets approved soon. I have been doing business with mtgox regularly for over a year. All I want to do is make Dwolla deposits. Fortunately, Bitinstant is there, though it costs a lot in fees.