Post by account_disabled on Feb 25, 2024 1:27:35 GMT -5
Financial institutions and companies that may facilitate the actions of criminals must adopt measures to avoid conduct such as obscure movements of financial funds and concealment of the origin of these funds. One of the options is the practice of getting to know your customer.
Pexels
Author was kidnapped and forced to transfer his cryptocurrencies to other accounts
With this understanding, the 9th Civil Court of Ribeirão Preto (SP) ordered the cryptocurrency broker Bitso to refund around R$326,000 in bitcoins to a client who was kidnapped and forced to transfer all of his assets to criminals.
The victim managed to track the destination of the cryptocurrencies. Part of them went to Bitso. He asked the broker to block the balance.
The company blocked a portion of the total requested, but reported B2B Email List that it was not possible to block everything. This is because the remainder was transferred to other accounts at other brokers, before Bitso became aware of the facts.
Therefore, the man went to court and asked for the money to be refunded.
Rationale
Judge Alex Ricardo dos Santos Tavares explained that the defendant is equated to a financial institution, as its activity is banking in nature.
He also recalled that suppliers have objective responsibility for losses caused to consumers. “The defendant, as it holds a license to custody cryptocurrencies, brings the risk to itself through its activity,” he concluded.
Bitso admitted that it had not acted at the time of the transaction, because it had not detected signs of irregular access or operations.
On the other hand, the author proved that the cryptocurrencies were transferred from his account at 5:58 am. “Transaction at that time is already to be doubted”, highlighted Tavares.
In the judge's view, the broker had an obligation to know its client's transaction habits and block transactions that deviated from this profile, or even contact the author to verify authenticity.
Tavares highlighted that the company claims to have a technology compliance and fraud prevention section.
Pexels
Author was kidnapped and forced to transfer his cryptocurrencies to other accounts
With this understanding, the 9th Civil Court of Ribeirão Preto (SP) ordered the cryptocurrency broker Bitso to refund around R$326,000 in bitcoins to a client who was kidnapped and forced to transfer all of his assets to criminals.
The victim managed to track the destination of the cryptocurrencies. Part of them went to Bitso. He asked the broker to block the balance.
The company blocked a portion of the total requested, but reported B2B Email List that it was not possible to block everything. This is because the remainder was transferred to other accounts at other brokers, before Bitso became aware of the facts.
Therefore, the man went to court and asked for the money to be refunded.
Rationale
Judge Alex Ricardo dos Santos Tavares explained that the defendant is equated to a financial institution, as its activity is banking in nature.
He also recalled that suppliers have objective responsibility for losses caused to consumers. “The defendant, as it holds a license to custody cryptocurrencies, brings the risk to itself through its activity,” he concluded.
Bitso admitted that it had not acted at the time of the transaction, because it had not detected signs of irregular access or operations.
On the other hand, the author proved that the cryptocurrencies were transferred from his account at 5:58 am. “Transaction at that time is already to be doubted”, highlighted Tavares.
In the judge's view, the broker had an obligation to know its client's transaction habits and block transactions that deviated from this profile, or even contact the author to verify authenticity.
Tavares highlighted that the company claims to have a technology compliance and fraud prevention section.