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I have done transfers before and everything went smooth until 15 days back, right after i did the transfer they sent me requesting details for the KYC process, they take one or two days to reply to me and within 6 days I have sent everything they requested. Now after they have everything, they do not reply to my inquiries, they did not provide any timeline or clarity on the process and why they did not mention it before. I did the transfer 2 weeks ago and today I have no clue what is the status. I find it fishy that they are doing this and is concerned about my money. What can I do? I have been through KYC before with a bank but it was very different, they simply send me a list of mandatory documents that I have to send, for bitstamp i am their customer for almost a year now and i did transfers before. I am not a day trader and do not have that big volume. They kept the KYC running for 14 days back and forth, there was a statement needed from a bank in my home country which i could n...

They asked: "What is the purpose and destination of your bitcoins withdrawals made from your Bitstamp account? I replied: "To my personal wallet for storage" Then they send this follow up question: "Would it be possible to clarify which bitcoin address do you use for cold storage and possibly provide us with some screenshots of your wallet/address where most of your bitcoins are currently being stored ?" zantafio

Used to work in compliance, specifically AML/BSA. Sorry, ton of words coming... There's a pretty blurry line between informing the client of a delay regarding a compliance investigation and what's known as "tipping off". If a financial institution is found to have tipped off, the penalties are stiff. Jail time and big fines to the person who did it, and potential loss of MSB licensure for the business. Again, that line boils down to interpretation. Most FIs won't say anything other than, "sorry for the delay," and nothing about compliance. This is especially true if the investigator has found something they find to be suspicious. What's suspicious is also muddy. Could be that the amount is the "magic number" of 10,000. Despite the rule that all cash deposits "larger than $10,000" must be reported, most suspicious activities like fraud, account takeover, etc are exactly $10,000, even if they aren'...