Luno return my money please!!!

my money got frozen in my Luno wallet since 21st Jan,how many days now.i think i offer enough docs to them,and as usually no reply today!!!!
 
saor said:
I actually can't believe this.

@Lunomoney - can you confirm Luno are actually requesting this slew of personal details?
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This is common with exchanges. The worst is if you have accounts on exchanges around the world.... and you reset your phone which had all the 2FA.

Expect to take the weirdest, most personal pictures you can imagine :/ Its not cool, but there is so much crime, what do they do?
 
ghoti said:
This is common with exchanges. The worst is if you have accounts on exchanges around the world.... and you reset your phone which had all the 2FA.

Expect to take the weirdest, most personal pictures you can imagine :/ Its not cool, but there is so much crime, what do they do?
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i didnt lost my phone bro``
 
ghoti said:
This is common with exchanges. The worst is if you have accounts on exchanges around the world.... and you reset your phone which had all the 2FA.

Expect to take the weirdest, most personal pictures you can imagine :/ Its not cool, but there is so much crime, what do they do?
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ì also sent my selfie to them many times,and id passport everything...but still not enough for them!!!!
 
I realise of course there's a small chance OP is regularly cashing in 1 million ZAR and luno have flagged the account. I've yet to see other people reporting such requests from luno.
 
saor said:
No its not. I have multiple accounts and have never heard of someone needing to send 3 months bank statements and employment slips. ID and proof of residence will usually suffice. Did you see this post?: https://mybroadband.co.za/forum/threads/luno-return-my-money-please.1005160/post-22887254

They're literally holding funds hostage with some stupid questionnaire.
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But aren't they suppose to abide by FICA? I think they do and if so are by-law required to freeze accounts till identity is verified as well as source of funds. If it's higher than a R 25k deposit.
 
qq54368 said:
ì also sent my selfie to them many times,and id passport everything...but still not enough for them!!!!
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Do you work for a living?

I had to do the whole photo upload, and paper thing. But they didn't ask for salary slips/bank statements etc.
 
Pitbull said:
But aren't they suppose to abide by FICA? I think they do and if so are by-law required to freeze accounts till identity is verified as well as source of funds. If it's higher than a R 25k deposit.
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Why would they need to abide by FICA if there's no regulation?
I'm pretty sure, like other exchanges, do KYC to minimise risk.
 
IOPS said:
Why would they need to abide by FICA if there's no regulation?
I'm pretty sure, like other exchanges, do KYC to minimise risk.
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I think you have a massive misconception about "non-regulation" of bitcoin, and exchanges within SA's borders. The coin not being regulated in trades is one thing, depositing money into an exchange is another. Maybe go read up a bit?
 
Pitbull said:
I think you have a massive misconception about "non-regulation" of bitcoin, and exchanges within SA's borders. The coin not being regulated in trades is one thing, depositing money into an exchange is another. Maybe go read up a bit?
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Read up on the proposed regulations? I'm pretty sure Luno self-regulates to keep the banks happy, maybe their rep can confirm?

Either way, it's definitely not required by FICA. That would mean regulation would already be here, which it's not.
 
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eventually i got my money back.Luno withdraw my funds to my bank account today.I took me 20 days to sort out the issue.not very good experience i have to say.Hope other exchange can do better job in SA crypto market.
 
Luno is not reliable. For best results, receive and store your bitcoin in an independent wallet from bitcoin.org. Then, only transfer bitcoin that you want to exchange for money immediately to your bank. Don't use Luno as a wallet.

They require way too much information and abusing your privacy rights. Not even the bank asks for payslips or job info. We have the right to freedom to participate in the economy and privacy.
 
Estelita said:
Luno is not reliable. For best results, receive and store your bitcoin in an independent wallet from bitcoin.org. Then, only transfer bitcoin that you want to exchange for money immediately to your bank. Don't use Luno as a wallet.

They require way too much information and abusing your privacy rights. Not even the bank asks for payslips or job info. We have the right to freedom to participate in the economy and privacy.
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Lol do you even know about KYC?
 
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