RP
Roedie P

1 reviews | Active since Oct 2009

14 Feb 2022, 10:56

Luno - hiding information?

I opened a Luno account about a week ago and it was verified by them. Then when I wanted to send some cryptocurrency to a friend my account was locked so now I do not have access to my own funds. Luno is asking for personal and private information that has absolutely no bearing on my trading activities. Why was this information not requested up front when I was in the process of opening the account in the first place? They are asking for details about the third party which, according to POPI legislation, I am not permitted to share with them. Four times, I asked why they need this particular (unrelated) info but my requests for explanation is being side-stepped, and they are threatening me that they will close my account if I don't give them this info. My first foray into trading has started off with quite a negative experience with Luno.

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Replies (1)
Luno
Luno's reply14 Feb 2022, 13:44
Official
Hi Roedie,

Thanks for bringing this to our attention.

Regarding your account being closed, please note, we take security very seriously, therefore, all our customers are affected by this lock, but rest assured that it's only to ensure the safety and security of your accounts.

The information that we've requested will only be available to our Compliance Team to review, just to make sure everything correlates well.

Until we receive the required information, your account will remain temporarily locked as a precautionary measure.

We look forward to resolving this for you.

^ UG

Best regards,