Rebellion Pay acts on behalf of a regulated financial institution and is therefore obliged to follow certain regulations (which sometimes require requesting certain information from our users) regarding security in order to offer a secure payment environment.
This type of process is carried out by the Compliance or regulatory compliance department. They are in charge of ensuring compliance with external laws and regulations, as well as compliance with the internal procedures established by the company itself. In other words, they identify and classify legal risks, in addition to establishing prevention, management, control and reaction mechanisms.
As in any other banking entity, there are several reasons why accounts can be blocked according to the laws and procedures to which Rebellion is subject.
In most cases, the suspension has an easy solution since it always responds to a temporary intervention imposed by law.
Here are the main reasons why our Compliance department may make the decision to block an account:
Use of a false, erroneous, or damaged document in the identity verification system that is not in accordance with KYC (Know Your Customer) policies. Here we could also include the use of someone else's identity document or identity theft.
Possible infractions of the laws against money laundering and terrorist financing. Rebellion is obliged to comply with the Law on the Prevention of Money Laundering and Financing of Terrorism 10/2010, of April 28. Therefore, you have the right to prevent the operation of a bank account in which unjustified deposits or irregular movements have been detected in the account (SEPA transfers from risk countries, recharges with cards from risk countries, etc.)
Lack of cooperation with Rebellion Pay regarding the collection of clarifying information and/or supporting documentation. Except in particularly serious cases, at Rebellion we give a sufficient period of time for the users to submit the information that the Compliance department has requested. If after this time, and prior notice, if the user has not cooperated, their account is blocked.
Other reasons due to internal procedures and controls. For example, receiving police letters, complaints from other Rebellion users, etc.
And we understand that in the event that this happens to you, you may have some doubts. For example ... How long will it take to recover your account?
At Rebellion we always try to solve the incident as soon as possible, however, the time it takes to recover it will depend on the type of incident and also on the delay in sending the requested information. In most cases this clears up within 2 to 7 days. However, there are more serious cases in which this process can take longer and last for months.
What happens if I do not provide the information requested or if I refuse to collaborate?
As a financial institution and as mentioned above, Rebellion Pay is legally obliged to act on the basis of the 5th European Union directive against money laundering (2018 / 843) and Law 10/2010, of April 28, on the prevention of money laundering and financing of terrorism. Therefore, we must ensure at all times that our products and services are not used to carry out fraudulent activities, integrate illegal funds into the financial system, and finance acts of terrorism. Failure to obtain any response from the user or the refusal to provide the requested information will be considered as an act of non-collaboration that may lead to the blocking of the Rebellion account.