I can help you open an Account in Panama if u want to.

Okay folks, I got some answers. I called to schedule this phone interview, and made friends with the lady on the phone, a risk manager. She was supercool and I got her talking.

Once I got her talking, I asked what flagged my account. She said "your account was flagged for online gambling wire transfers.... what's going to happen tomorrow during your interview is that you'll be asked about these transactions and firmly warned that you are not to process wire transfers thru us anymore from online gambling sites.... you wont be reported, but should you continue to process wires through us, you probably would be"

It appears that the questions are stemming from Wire Transfers from international accounts. Specifically, if you have received a wire transfer from "Sphene", you can expect that your account will be flagged, and you will get the pleasure of a similar interview from your bank manager or the bank's Risk Management department. Note that it's not checks that are being looked at, but rather the wire transfers.

My action will be specifically to get my money out of that bank, slowly, and eventually close my accounts with them. No sudden moves.

 

Originally Posted by Ma Zi Yi

http://en.wikipedia.org/wiki/Suspicious_activity_report

"The purpose of the Suspicious Activity Report is to report known or suspected violations of law or suspicious activity observed by financial institutions subject to the regulations of the Bank Secrecy Act (BSA). In many instances, SARs have been instrumental in enabling law enforcement to initiate or supplement major money laundering or terrorist financing investigations and other criminal cases.<SUP title="This claim needs references to reliable sources from June 2008">[citation needed]</SUP> Information provided in SAR forms also presents FinCEN with a method of identifying emerging trends and patterns associated with financial crimes. The information about those trends and patterns is vital to law enforcement agencies and provides valuable feedback to financial institutions"

--One of these reports may have been filed or will be filed.

This, specifically, is exactly what my concern is.

 

Originally Posted by bonkey

I'm surprised reading these responses. I guess most people don't use the phrase, "none of your fucking business" as often as I do.

This is exactly the problem with our tax code, and legal system in general. There are so many laws and regulations you can never be sure if your in compliance. And that is how they want it.

This type of response could lead to a suspicious activity report being filed on me. I wouldn't advise this to anyone in my situation.

 

Originally Posted by GraAlaMat77

Glad to hear that, Jenn..

Hope it all goes well for you..

You know the shit may really start hitting the fan when respected players like Jenn are having troubles depositing

Nothing like that. It's the withdrawals via wire transfer, specifically associated with "Sphene" that are being flagged.

 

Originally Posted by Jennifear

It would not be a big deal for me to change banks.

Just remember you never have to answer something you dont want to. I would instaswitch banks and not make the call.

One lesson here is that wire transfers are easy to track/flag. Checks are not. One of the financial industry's biggest complaints with the UIGEA was the challenge it would pose to try and track checks from off-shore companies. For what it's worth, checks seem to be clearly the way to go. Don't make it easy for them to flag you.

I'd like to hear what TheEngineer or anybody high up in the PPA would advise you to say...

Obviously keep us posted if you can Jenn. Thx

I've gone through this a number of times -- see my site to site/site to cash trading history on 2+2 and you'll understand why... basically so much money was cycle through my accounts to and from poker sites that I look like some kind of launderer.

The end result varies depending on bank. 1) Accounts can be closed for life -- this was my chase bank experience and is essentially the company just dumping you because you are more hassle than its worth (nothing illegal about it), 2) Change of account - - had this experience with Citizens where I was required to open business accounts service continued as usual .... my understanding of the UIGEA is that it restricts inflow, there should be no problem with receiving wires or cashing checks if the bank understands the act correctly.. what they are restricted from doing is knowingly processing deposits to online gaming sites.... so if you have the whole 'i'm a pro poker player conversation' and your bank understands the act correctly you will no longer be able to deposit if need be ---- that said I have a feeling banks are reacting stronger as of late and this will probably result in an account closure unless you are dealing with a smaller regional type bank.. they are less well informed on the whole matter and take less drastic action in my experience... they just want to know no fraud is going on.

Can I ask roughly how often you were getting deposits? All this talk has me concerned about toning things down or just flat out withdrawing everything now...

 

Originally Posted by epbarz

Alright i know i don't post alot, but i just had a very nice score this past friday(mini-brag obv) and my question is a stupid one
Is the bank wire you are talking about the same thing as an e-check?(flame away for this a level ???)

No.

1. <h2>Wire Transfers</h2>
2. A wire transfer is simply a transfer of money between two banks through a secure system such as Fedwire for banks within the Federal Reserve system, or Clearing House Interbank Payments System (CHIPS), which is owned jointly by its members. Traditionally, for an individual (or business entity) to conduct a wire transfer, he must furnish his bank with the receiving information of the recipient's bank in order to initiate the transaction. Generally the sending and receiving banks must hold reciprocal accounts with each other, but the use of a third bank (and thus the payment of additional fees) that holds an account with both may be used. There are, however, several consumer-oriented wire transfer services that will allow you to transmit money over great distances without holding an account with any bank, often at higher fee rates. The most popular example of this type of service is Western Union. <h2>Electronic Funds Transfers</h2>
3. EFT systems simply take the traditional paper check transaction cycle and bring it into the Digital Age. Instead of the receiver's bank using a paper check to initiate a transfer from the sender's bank, a digital signal is generated upon the execution of a transaction and sent through an intermediary known as a clearinghouse.

 

Originally Posted by Ma Zi Yi

Beware of a scam. I wouldn't tell them any information over the phone.

THIS SEEM POSSIBLE TOO(cuz of the phone part)

Since horse racing is legal to wager on, why can't you just say that you play the ponies online?

I've followed this stuff for a number of years now and for the first time am legitimately concerned. Is it really time for U.S. players to hit the panic button and take all funds out of poker accounts until the dust settles w/ all this legislation? Or overreaction much?

 

Originally Posted by dealace1

sing with me: Oh Canada, our home and native land....

YES!!! God Bless this Country! Cheers