[2015-06-25]European Banks Rumored to be Monitoring and Reporting Transactions..

[tyz]

European Banks Rumored to be Monitoring and Reporting Transactions Related to Bitcoin

An anonymous Reddit user who self-identifies as bank employee posted a warning saying that his bank received a memo from the national financial institute, with instructions to report anyone who receives more than €1,000 that may be linked to Bitcoin.

http://coinyoo.com/2015/06/25/european-banks-rumored-to-be-monitoring-and-reporting-transactions-related-to-bitcoin/

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[Lethn]

Shit, does that include the UK? I'm going to be setting up a seperate current account which will precisely have Bitcoin money flowing in and out of it.

[pedrog]

I'm not buying this, there's just nothing that supports the claim, not even in which country this happened.

A proper leak should include said memo...

[Bit_Happy]

I'm not buying this, there's just nothing that supports the claim, not even in which country this happened.

A proper leak should include said memo...

We do not know for certain if a "national financial institute" actually sent a memo, but there is no doubt that a number of banks in several countries are suspending accounts for Bitcoin related activities, according to reports on this forum.

[pedrog]

I'm not buying this, there's just nothing that supports the claim, not even in which country this happened.

A proper leak should include said memo...

We do not know for certain if a "national financial institute" actually sent a memo, but there is no doubt that a number of banks in several countries are suspending accounts for Bitcoin related activities, according to reports on this forum.

That happens since ever, I remember there was a website dedicated to that like two years ago, badbanks.com or something like that, to be fair banks do this to all clients they thing pose a threat to compliance, not just bitcoin related.

The claims made are much higher and it may actually be illegal in some countries to do such thing as we have bank confidentiality that can only be lifted in very specific conditions.

[Bit_Happy]

I'm not buying this, there's just nothing that supports the claim, not even in which country this happened.

A proper leak should include said memo...

We do not know for certain if a "national financial institute" actually sent a memo, but there is no doubt that a number of banks in several countries are suspending accounts for Bitcoin related activities, according to reports on this forum.

That happens since ever, I remember there was a website dedicated to that like two years ago, badbanks.com or something like that, to be fair banks do this to all clients they thing pose a threat to compliance, not just bitcoin related.

The claims made are much higher and it may actually be illegal in some countries to do such thing as we have bank confidentiality that can only be lifted in very specific conditions.

OK pedrog, we are replacing the banks anyway, right?   

On a more serious note, the USA debt is now so big that we cannot ever repay it...
At least Btcoin is in place to "take over" when the time is right.

[Kakmakr]

I was one of them. My advice, open an account at more than one bank and do not use Bitcoin with a account linked to your main activities. If they close it, just go to the next bank and open up a new account, until you find a bank that is friendly towards Bitcoin users. DO NOT make huge deposits to these accounts, because they will be flagged.
I am not doing anything illegal, but the banks are simply spiteful and petty. The problem comes in when you try to open an account within the same group. Once you are flagged, you have to apply from within another group. Silly games are being played to stall the inevitable. ^frustrated^ 

[acquafredda]

Shit, does that include the UK? I'm going to be setting up a seperate current account which will precisely have Bitcoin money flowing in and out of it.

if that is so your limit will be lower considering you have GBP.