Some of you may have had your PayPal account restricted or frozen due to PayPal requesting further info When speaking to a PayPal consultant, the resojn given is that tthis is what Austrac is demanding of PayPal. PayPal seems to be targeted some account holders and not others from what is evident aat his stage. PayPal's asking for sensitive info DOB, home address and other. This is then sent to Equifax for confirmation. So people who have had PayPal accounts for years are suddenly hit with this. So now residential and other sensitive info is going to be accessed by another external party, possibly two. It's understandable that people are concerned and uncomfortable with this. And failure to comply means that funds within PayPal are frozen. lucky for PayPal though, funds can still be paid in.and of course, you can't buy or sell using your PayPal account until that info is given.
So in this (whatever you want to call it) the players are PayPal, Austrac and Equifax.
AUSTRAC orders audit of PayPal Australia’s compliance with financial crime laws24 Sep 2019AUSTRAC has ordered the appointment of an external auditor to examine ongoing concerns in regard to PayPal Australia’s compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML/CTF Act).
These concerns relate to PayPal Australia’s compliance with its International Funds Transfer Instruction reporting obligations, which require regulated entities to report the transfer of funds or property to or from Australia.
And tnow there's another PayPal issue similar to this one that has been happening earlier
Some of you may have had your PayPal account restricted or frozen due to PayPal requesting further info When speaking to a PayPal consultant, the reason given is that this is what Austrac is demanding of PayPal. PayPal seems to be targeted some account holders and not others from what is evident at his stage. The people targeted seem to be the folks that have a balance. A balance of a hundred dollars gets frozen. PayPal's asking for sensitive info DOB, home address and other. This is then sent to Equifax for confirmation. So people who have had PayPal accounts for years are suddenly hit with this. So now residential and other sensitive info is going to be accessed by another external party, possibly two. It's understandable that people are concerned and uncomfortable with this. And failure to comply means that funds within PayPal are frozen. lucky for PayPal though, funds can still be paid in.and of course, you can't buy or sell using your PayPal account until that info is given.
So in this (whatever you want to call it) the players are PayPal, Austrac and Equifax.
Regardless of wht you make of that, haave a listen to the clip below by Mike Turber.
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PayPal Shuts Down Customer Service Freezing Accounts Leaving Many Without Money571 views•Jun 3, 2020
1.34K subscribers
https://www.youtube.com/watch?v=dZhgvSK6eHE
Again PayPal are not replying to people's requests!
