Bank transfer through reference bank "on hold" since 2 weeks - any experiences?

[Forester]

Exactly. Just⁠ to add, if you want to learn more, keywords are: MCMAATM (The Multilateral Convention on⁤ Mutual Administrative Assistance in Tax Matters), FATF (The Financial Action Task Force) and consequently AML/CFT⁣ regime (anti-money laundering and combating of terrorism financing regime).
These measures, in fact, give the⁢ banks right to do practically anything (OK, perhaps except openly to steal your money).

+1
Fully understandable 🙁
Well, as claimed above, it is (IMO) almost surely related to the customer or to︄ the customer's bank. As the customer's nature of business seems relatively innocent and the substance︅ of transaction is really clear, perhaps with different banks in action it should not appear.︆ BTW, could you disclose the names of the banks (customer's bank and correspondence bank)?

 

[Martin Everson]

No idea but when you read articles‍ like the below. Who knows what EU maybe thinking.

https://www.offshorecorptalk.com/th...e-sanctions-for-sheltering-dirty-money.37809/

 

[JackAlabama]

Well, you can⁠ only know this if you try again.
Switch to other payment methods like Bitcoin or⁤ Tether.

 

[misterta]

Short Update.
My Customer was Last week thuesday in his Bank and canceled the Transfer.‌ Until now he hasnt back his Money. 1 week now and nothing comes. This is‍ a so Crazy and Bad Situation What the reference Bank do here!

 

[Martin Everson]

Thanks for update.

Well money is not lost. You know where it is⁠ at least. Reference bank may have thousands of similiar transactions to manually handle before they⁤ get to yours.

 

[misterta]

Yes thats true but I have lost this customer forever. It is a really bad‌ situation only because of this reference bank in Brussel.

I am also afraid of giving‍ this Bank details other customer but I must taste it. When next transfer also hold⁠ by referencebank then I can not use anymore…

 

[Forester]

May be, of course. Although honestly I would‍ rather suspect them that they are still performing some investigation, because they feel obliged to⁠ do it, regardless of the fact that the transaction is cancelled. But this idea is⁤ really worth 2 cents 🙂 (Frankly, I am really curious what a bank it is. But⁣ I understand well that @misterta does not want to disclose this detail.)
🙁 🙁 My sympathies are⁢ with you. Unfortunately, I can imagine that this is the consequence, regardless of fact that︀ you are innocent. 🙁
Yes. Good luck. (Or you can︂ change the bank, or currency.)

 

[PinkCat]

As of few days Dubai is out of this list, so OP please update us‌ what happened.
Yeah I know it's been 2 years.

 

[Wellington]

All EURO︁ transactions route through the ECB (Belgium)
All $ transactions route through SDNY (New York)
All CHF transactions (International) route through SDNY (New York)

Most other currencies route through their respective︂ central banks then SDNY as the $ is the medium of exchange (or EuroDollar) in︃ the process of transactions, except for EURO.

China likewise has it's own payment rails that︄ have been adopted in Asia/Africa.

That's why you see so many indictments from the US︅ due to the touch points the transactions have with the US.

 

[PinkCat]

Where is the AED routed?

 

[icecold]

did you⁤ ever received the money or did it returned to the sender? What happened after all⁣ this time with the money?

 

[clemens]

Would have been nice with an update to all of this, just for a reference‌ to others if they get similar problems.