Yes I experienced this with FastSpring. Had a store with them for 15+ years, then suddenly they froze it and demanded all of the above. Was quite disturbing to say the least.

▲

lifestyleguru 2 hours ago | parent [-]

If you look up comments on fintechs, trading platforms, and even legit banks on reddit and review websites there has been surge of these practices in last maybe 12 months. Basically "all savings and accumulated funds are illegal by default". In the past I only had heard horror stories about Paypal but now this it widespread.

▲

r_lee 2 hours ago | parent [-]

That's the blessing of the KYC/AML laws/regulations for ya.

Moving money needs source of funds, documentation etc... doing any business requires you to doxx yourself to the world and to vendors in the name of transparency.

Luckily though none of this is a problem for large multinationals :) which the EU cares about most in the end

	▲	lifestyleguru 2 hours ago \| parent [-]
		So after you paid income tax, then capital gains tax while accumulating, and about to pay VAT tax while purchasing something, they say "hold on, this money looks illegal!". Savings don't have documentation in form of recent payslip or deed of sale. The yachts and private jets on European harbors and airports don't look like their owners have any problem with money transfers. Wirecard billions? poof, vanished! If feels as if elites were in process of cutting off everyone else.