[Warning] Vendors for European Vendors.

I'm posting this friendly warning as a bank employee. We recently received a memo and report from our countries financial institute to report anyone that receives more than €1000 linked to Bitcoin transactions. The report states that 84 accounts in our country have been flagged, and from these 84 flags 52 are under surveillance / investigation. I am not sure if this is connected to the Darknet, but I am quite sure that no vendor wants to have their business investigated. Before this report we where only required to report deposits above €10500 within a year. So them moving it down all the way to €1k is quite troubling in my eyes. I cannot tell you which country this is, but the report attached comes from Europol...so I am assuming it is EU wide. Do what this information what you want.

I have found a earlier report from our financial institute available in PDF form on Google. It is in Dutch but I am sure it will provide enough proof: https://www.fiu-nederland.nl/sites/www.fiu-nederland.nl/files/documenten/jaaroverzicht_2014.pdf The release of this report is 21 May 2015. The report starts at "Monitoren van encrypted currencies: bitcoins". Which explains how people are being monitored for Bitcoin transactions and how it has led to a bust.


Comments


[57 Points] 9999999999999993:

Sorry for my bad English. But I thought I do my part in warning people.


[15 Points] dn2016:

Possibly related to tax evasion as well....


[7 Points] FagDamager:

thanks for the heads up. why can't you reveal the country?


[6 Points] throw9592:

Is this the reason why my cousin got both of his transactions (all in the past 10 days) denied?He was trying to transfer some money to bitstamp but the funds didn't go through.Tried a second time,same result.They just sent him the funds back to his account after 2-3 days.

Even after a few phone calls with some bank employees he still doesn't know why it didn't work out.They didn't mention any specific reasons but they said that they were contacted by their head office regarding his account and those transactions (it was not even 100 euros)...which ,in their words,happens rarely.

We still don't know why it happened,there was no large sum of money involved and buying bitcoins is perfectly legal.

P.S. The bank is Raiffeisen bank,Austria.


[2 Points] Macno76:

1000 in one transaction or per week/month?


[1 Points] MitalikaSucks:

Thanks


[3 Points] mechathatcher:

Money laundering regs mean any transaction above £2000 have to have safeguard checks done on them. This has been dropped to £1000 last week. This affects everything, not just bitcoin. Just keep individual transactions below £1k.


[2 Points] lyleandscott:

How can you check there coming from bitcoins when the majority of bitcoins are sold/bought with a straight bank transfer. You could be buying or trading anything.


[2 Points] throwaway523100:

Thanks for the heads up


[2 Points] ispynlie:

I've had my bank account locked three times due to buying bitcoins, the banks in NL do not fk around and I'll bet this is either ING or ABN


[1 Points] None:

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[1 Points] sillysally11:

Speculation would be a better description. I think for it to be called FUD it should have to have been proven not to be true. Even then it's difficult to tell, why is there even a FUD tag? I don't think you can accurately judge all posts.

Something is not FUD right off the bat because there is no proof, it is speculation. I don't like throwing around FUD so much, people are going crazy with that word recently.


[1 Points] FapNowPayLater:

Could we please see a sterilized copy of the memo?

i


[1 Points] TipTopHank:

so 84 accounts are flagged and 52 under investigation in a country of at least 15 million bank accounts (the actual amount is much higher since almost everyone has at least one).

either the inteligence unit aren't doing their job right or in the NL hardly ANYONE is using bitcoin which is of course abslutely not the case. if this is from europol it's safe to assume it is a european investigation. the chances of you getting discovered because you let us all know this are just as big with you releasing the report or not. from an organisation like europol they would have calculated in this risk when they send in this report to banks. i would assume such a report would only be sent to the central bank of a country but maybe to high up staff at the bank as well. now everyone who does have something to hide got a heads up. not a europol-like strategy if you ask me.

you would really do the community a huge favor by showing the reports. at this point it is just as easy to believe you just read the PDF you showed us and you based your post on that. think of this: you cant show the report but you can give a very specific detail about the amount of accounts being flagged and investigated, a detail that seems kind of... off. if the specific detail is true than you already gave yourself just as much away as you would have by releasing the report. which begs the question... why or why not?

and if 1000 euro is really the threshold for flagging then the financial instituations have a HUGE amount of work on their hands, let's be honest we are talking about 1000s of cases everyday...


[1 Points] TotesMessenger:

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[1 Points] LookatXDN:

Thank you sir for your warning, i must say that anyone who is worried about his privacy should look at XDN-project - DigitalNote http://digitalnote.org Anonymous cryptocurrency and untraceable blockchain messaging with Proof-of-work. Bank inside XDN blockchain.


[-1 Points] None:

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[-1 Points] Hank_Vendor:

All about the lbc


[-6 Points] None:

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[-5 Points] None:

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