Interactive Brokers and EU sanctions

[somerandomuser]

Hi OCT community.

I was unlucky enough to tell IBKR my primary citizenship was Russian when I opened a joint account with them in 2020. Ever since 2022 they kept imposing various restrictions following European sanctions against Russia/Belarus. I have a second citizenship, and I'm considering opening a regular (not joint) account under my name, this time "forgetting" to mention my first citizenship, and later transferring the positions over to the new account. Have any of you had similar experience? How likely are they to notice the discrepancy? What are potential implications?

Thank you.

 

[JohnnyDoe]

This can be risky, and IBKR is not very quick at checking info, so it might all go well for a while until they decide to freeze your account. Better to start afresh with a new broker or name.

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[GF150]

JohnnyDoe said:
Better to start afresh with a new broker or name.
Click to expand...

However, take care with the name because, as far as I know, IBKR allow only first-party transfers.