FinCEN and Linden Labs

[Loydin Tripp]

I have owned a private region for over ten years, paid my rent each month. Charged my tenants (who are my friends ) close to cost.

That is 120 payments, one each month, for ten years with no mishap or issue. Two weeks ago I executed a process credit, post fees, was a little over $38.00.

Linden Labs has refused to complete the transaction to my Papal, withholding the funds with the excuse that FinCEN requires me to provide some fairly intrusive personal information to prove who I am. Strangely, most of the information is in their own records: my credit card -on file for 12 years, payment history of island, transfers from other Second Life residents -the friends who contribute to the private region rent and the needed details to transfer money to my PayPal account.

They also know my real world name, address and any other particulars associated with my credit card.

Anyone else going thru this or have heard of this?

Much thanks, Loydin Tripp

[Pamela Galli]

It’s been several years but yes, they asked a lot of questions. I finally sent a record of my sales for three months so they could see exactly where my money was coming from.

[iamyourneighbour]

PayPal is different to SL so information is not exchanged. PayPal requires full doc once you passed around $1000 USD worth through it, also some country have moved to make using PayPal impossible or very difficult. Ecuador for example only allow PayPal to be paid out in cheques which half of the time will be lost in mail, Turkey also has restrictions placed on PayPal. 

I am guessing it has something to do with your local law. Where abouts do you live ?

Edited November 1, 2018 by iamyourneighbour

[KanryDrago]

1 hour ago, Loydin Tripp said:

I have owned a private region for over ten years, paid my rent each month. Charged my tenants (who are my friends ) close to cost.

That is 120 payments, one each month, for ten years with no mishap or issue. Two weeks ago I executed a process credit, post fees, was a little over $38.00.

Linden Labs has refused to complete the transaction to my Papal, withholding the funds with the excuse that FinCEN requires me to provide some fairly intrusive personal information to prove who I am. Strangely, most of the information is in their own records: my credit card -on file for 12 years, payment history of island, transfers from other Second Life residents -the friends who contribute to the private region rent and the needed details to transfer money to my PayPal account.

They also know my real world name, address and any other particulars associated with my credit card.

Anyone else going thru this or have heard of this?

Much thanks, Loydin Tripp

This may well have nothing to do with the Labs whatsoever, many countries have instituted "know your customer" laws to combat money laudering where firms are required to collect up to date information from their customers such as Address, age, photo id etc

[Ivanova Shostakovich]

1 hour ago, iamyourneighbour said:

Where snouts do you live ?

   Snoutsville?

 

   Sorry snout that.  At times, my attention to detail, and my ability to resist poking things seem to be inversely proportional.

[Loydin Tripp]

I live in a dangerous and exotic place, Seattle, Washington, just 20 miles east of Snoutsville. ?

As per some of the earlier comments, FinCEN is US federal law, although it can be triggered by money moving from outside the US into or out of the US. Created in the Reagan Administration to combat drug cartel money laundering and the US banks that often assist them.

My problem with Second Life was their requests could have all been done by them. I had to log into my account and look up the information they requested, I essentially did their work for them.

Yish.

Loydin Tripp

 

 

[ellestones]

17 hours ago, Loydin Tripp said:

I live in a dangerous and exotic place, Seattle, Washington, just 20 miles east of Snoutsville. ?

Snoutsville sounds like a exotic place, just going off the name

am happy tho that you have sorted it out