Why is my account blocked?
As a financial institution we are required to monitor and detect financial crime. We provide sophisticated monitoring combined with reliable fraud prevention services acting in combination with fraud prevention specialists – our Risk and Compliance teams.
Our system scans everything that goes on behind the scenes (card transactions, POS transactions, Internet transactions, internal transfers, credit transfers, cash withdrawals, etc.) and once it finds traces of suspicious activity, it instantly flags it until a compliance agent checks and makes sure all is fine.
Apart from that, our Compliance department cooperates with external partners and intelligence networks, to detect and remove fraudulent accounts quickly, prior to avoiding any damage.
Certain account gets locked, whenever the system raises too many flags, either from our own analysis or based on information from our partners.
The reasons for this can be various:
- your ID documents have expired and you have not provided updated ID documents upon our request
- we received chargebacks
- our system has detected suspicious card transactions with your card, transfers to persons in sanctions lists
- unusual transactions hours, unusual transactional behavior
- transfers of unusual amounts of money
These and many others raise risks flags and we must block your account for security or regulatory reasons.
To unlock an account, our Compliance and Risks teams must review each flag, making sure that everything is 100% compliant. Depending on the complexity of the issue, some accounts can be under review for longer than others.