Paypal 'EU Money Laundering Protection Process'

[ApacheAnderson]

Anyone had to go through this?

Does anyone know where the information they collect from you goes?

[matt]

I've not seen anything like this, you sure it's not a scam email?

[ApacheAnderson]

No, due to the fact I've recived over a certain amount into my paypal account in the past year (and no I'm not stupid enough to process a paysite with it or anything, it's receipt of payment for design work) They've asked me to go through a 'information providing' process. I know it's not a scam as I had to login to get the information.

[ApacheAnderson]

This is what I get when I login now, before I can get to my account

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PayPal is constantly working to ensure security by regularly screening the accounts in our system. We recently reviewed your account, and we need more information to help us provide you with a secure service. We would like to return your account to regular standing as soon as possible. We apologise for the inconvenience.

Why do I need to provide additional information about my account?

We require additional information about your account for the following reason(s):

# 22 Dec. 2005: You have received £4,500.00 GBP or more in total payments to your PayPal account in the last 12 months.

PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than the set limit in total payments. These steps need to be completed within 180 days to comply with this regulation.

If you have any trouble completing the steps, please feel free to contact Customer Service on 08707 307 191.

We appreciate your business and apologise for any inconvenience.

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[JT]

Got that with an old account. Its law these days, phone them up its quite painless

[ApacheAnderson]

Got that with an old account. Its law these days, phone them up its quite painless

Yeah it doesn't sound to bad, I was just wondering if anyone knew where the information goes.

[FFS]

Basically they file it. If anyone starts an investigation into your financial affairs - IRCE, the FSA, whoever - they'll hand over the info when requested. I don't believe there is any statutory reporting requirement, although one or more large deposits might trigger something.

I've had the same with both Nochex and ePassporte. It's nothing to worry about.

[morefodder]

You have received £4,500.00 GBP or more in total payments to your PayPal account in the last 12 months.


I wont worry about it yet then , pmsl.

[ApacheAnderson]

I wont worry about it yet then , pmsl.

what's funny?

[ApacheAnderson]

Basically they file it. If anyone starts an investigation into your financial affairs - IRCE, the FSA, whoever - they'll hand over the info when requested. I don't believe there is any statutory reporting requirement, although one or more large deposits might trigger something.

I've had the same with both Nochex and ePassporte. It's nothing to worry about.

I thought that was probably the case. Thanks.