Party- New security feature to prevent points deposit/withdraw abuse?

[AA suited]

They now require you to enter your ss# if you cashout over $10k per month.

"Your request exceeds our aggregate Cash Out limit of $10,000 per month or $3,000 per day.

In order to comply with our obligations and policies in relation to money transfers we need some additional details from you before we can accept your cash out request. It's easy, and you'll only need to do it once. As soon as your details are confirmed, you'll automatically qualify for faster cash outs and higher deposit limits!

We are committed to your privacy. The information you provide to us here is used for verification purposes only.

Please enter your Social Security number in the field below and click 'Submit'. "

since the US requires all transactions over 10k to be reports, is Party going to report this??? or is this just a tactic to slow people down from deposit/withdraw abuse to rack up points?

[awval999]

I would imagine it's probably because of that IPO, they are trying to make their business look good. Verify information.

I really doubt they would give our information to the US Government.

They probably just want to run a credit check. Why...? I do not know.

[TobDog]

What about us, the "old" Party members? I never gave them my ss# or Neteller for that matter, how will they verify it is me? I know that they ask for ss# with new signups.

[AngusThermopyle]

[ QUOTE ]

since the US requires all transactions over 10k to be reports,

[/ QUOTE ]

That regulation is cash transactions.

[BradleyT]

What do you think a cashout is?

EFT is simply moving cash around from one account to another but still gets reported even for businesses.

Ok before I get flamed. Once a business establishes that these amounts are normal transactions they do not have to be reported. But if your business deposits $1500 every Friday and all of a sudden deposits $25,000 it's a big red flag.

All this stuff can be found by reading about the Patriot Act and Bank Secrecy Act. I've linked to this stuff a long time ago.

[StellarWind]

It's one thing to run an offshore gambling business. The U.S. government doesn't quite like it ... but there is a lot of ambivalence and politics and the three branches aren't really on the same page. The judges often tell the administration that the laws don't apply and Congress doesn't write many new ones that would apply. Life and poker go on.

Let an offshore casino be perceived as a money laundry for narcotics trafficers and terrorists and see how fast that changes. The U.S. has not hesitated to invade countries for that sort of thing and I don't just mean since 9/11. Party will be closed for good the minute they become a perceived threat to U.S. security.

Not that being a tool of organized crime is good for business in the first place. The inevitable threats, employee bribes, and bad publicity really hurt. It's better not to let something like that get started.

Thus it only stands to reason that Party cares about who moves money through their site. Nor should you assume that they won't share evidence of serious criminal activity with national law enforcement authorities. They won't admit it of course, but there are lots of quiet ways of solving these problems.

[goodguy_1]

[ QUOTE ]
What about us, the "old" Party members? I never gave them my ss# or Neteller for that matter, how will they verify it is me? I know that they ask for ss# with new signups.


[/ QUOTE ]

[HesseJam]

It's a US thing anyways

[mmcd]

Meh. In a couple of years, Party can just buy the U.S. government.

[driller]

I cashed out $6000 in one transaction on Apr 15. They deposited to my bank account in two $3000 transactions, but they did not ask for my SS#.

[MicroBob]

goodguy is in florida....and as much as some of us might like to get rid of it, technically it still is considered part of the US.

[goodguy_1]

hahah.hey I like my home state better than new jersey where I grew up /images/graemlins/tongue.gif

[AA suited]

sigh.. it's now may 1st, and i still cant even cash out $1000 w/o entering my ss#. (And i dont want to enter my ss#!)

suggestions?

[sfwusc]

enter your SS# or tell them you dont want the money.

SFWUSC

[StellarWind]

[ QUOTE ]
sigh.. it's now may 1st, and i still cant even cash out $1000 w/o entering my ss#. (And i dont want to enter my ss#!)

suggestions?

[/ QUOTE ]
Have you considered that the one month limit is probably not a calendar month but rather a sliding 30-day window? It is likely that they are checking to see if this withdrawal would put you over the limit for the last 30 days.

[AA suited]

lol.. 1 month as in the last 30 days.. ahh /images/graemlins/smile.gif