I'm hopeful that you and other exchanges will be able to operate profitably under this regime...or simply willing to do so.
It would be hard for me to believe that you could have gotten an exchange service operating without having first recognized the kernel of truth enunciated by MysteryMiner in the preceding discussion entry.
Like I've said on several occasions, though, an exchange could probably make a temporary killing by gathering BTC/Funds from people who will end up being unwilling to incur the risk of coming back for them. Nebulous and/or non-published terms of service seem to be the norm for Bitcoin related enterprises, so you could probably get away with stating that uncollected assets will be liquidated after arbitrary periods of time.
BTW, does this thread not belong in the economics -> trading discussions bin?
Topic: suspicious activity...new security measures on WBX - page 2. (Read 2649 times)
Probably You don't understand that one of Bitcoin greatest selling points are anonimity and untraceability, so just as internet is for porn, Bitcoin is for illegal payments.
Dear WBX Users,
As you may be aware we have recently had to freeze trading on the World Bitcoin Exchange on several occasions. This is a result of recently implemented tightened security measures which have identified some accounts as showing suspicious activity. We have responded by suspending the accounts in question.
The new security measures have been brought into place at the insistence of a number of banking and policing entities after an increase in the incidence of fraud, phishing attacks and money laundering being carried out using Bitcoins to mask illegal transactions.
Should your account be suspended and you believe this suspension to be in error, we ask that you contact us in order to start the identification process. Once gathered, the documentation in question is held on a secure data store. Any submitted information will not be shared with any third party under any circumstance, except where WBX is legally obliged to do so.
Please be aware that due to the sudden increase in AML requests, processing of submitted documentation has become slightly delayed. We thank our users for their continued patience and support as we adjust to the requirements which have been obligated upon WBX.
Sincerely,
WBX Support Team
As you may be aware we have recently had to freeze trading on the World Bitcoin Exchange on several occasions. This is a result of recently implemented tightened security measures which have identified some accounts as showing suspicious activity. We have responded by suspending the accounts in question.
The new security measures have been brought into place at the insistence of a number of banking and policing entities after an increase in the incidence of fraud, phishing attacks and money laundering being carried out using Bitcoins to mask illegal transactions.
Should your account be suspended and you believe this suspension to be in error, we ask that you contact us in order to start the identification process. Once gathered, the documentation in question is held on a secure data store. Any submitted information will not be shared with any third party under any circumstance, except where WBX is legally obliged to do so.
Please be aware that due to the sudden increase in AML requests, processing of submitted documentation has become slightly delayed. We thank our users for their continued patience and support as we adjust to the requirements which have been obligated upon WBX.
Sincerely,
WBX Support Team
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