PayPal is currently blocking all transactions containing the word “tardigrade”

Re:PayPal is currently blocking all transactions containing ... by seanhunter on Saturday September 12, 2020 @07:21AM (#24451631)

You're right but I think you'd perhaps be surprised how international sanctions monitoring works.

Example, I know one of the largest banks in Europe used to have payments they sent to one of their South American branch offices blocked from time to time because their address in Brazil or Argentina or something was on a street called "Avenue de Cuba".

[ Parent | on HN ]

Re:PayPal is currently blocking all transactions containing ... by Dahoon on Saturday September 12, 2020 @08:37AM (#24451952)

But PayPal specifically isn't under banking laws which is how they cover their ass normally (like if you have money at PayPal and they terminate your account you never get your money , which there are thousands and thousands of cases of PayPal doing which would be illegal for an actuall bank), so banking law has nothing to do with PayPal.

[ Parent | on HN ]

Re:PayPal is currently blocking all transactions containing ... by nulbyte on Saturday September 12, 2020 @09:47AM (#24452382)

In the US, the PATRIOT act, and thus KYC laws, apply to money service businesses. This includes PayPal.

[ Parent | on HN ]

Re:PayPal is currently blocking all transactions containing ... by nraynaud on Saturday September 12, 2020 @08:43AM (#24451996)

in the EU they are an actual Bank based in Luxembourg.

[ Parent | on HN ]