As a licensed financial service provider in Europe, Vivid Money follows strict regulations to fight money laundering, terrorist financing, and fraud. In certain cases, these regulations may require us to restrict or block accounts to request more information about our customer's activities and funds.
We understand that the required information might be private and that these kinds of requests can hinder your account usage, but please note we do not intend to cause any difficulties for the customer’s legitimate business.
Keep in mind that we will not share any details about how these individual checks work, in order to protect the security and integrity of our monitoring systems, as well as protecting the outcome of any possible criminal investigations.
In most cases, the reasons for temporarily blocking an account are:
Suspicion that your account details may be compromised or vulnerable to fraudulent activity.
Unusual or irregular activity detected on the account.
Failure to update required documents for you or your company.
Changes in your business nature, with a list of unsupported industries. You may check the list of unsupported industries here
In less common cases, an account may also be seized by order of authorities or blocked due to technical issues.
Bear in mind that in the unlikely event of the account being blocked, we’ll most likely reach out to you with additional questions.