A man's account was blocked for selling cryptocurrency after the sender demanded a refund for the transactions, according to PrivatBank's response.

A man had two orders to sell cryptocurrency to a counterparty. Three months later, PrivatBank blocked his account because the sender is demanding a refund for the transfers. The corresponding complaint was published on November 29 on the "Minfin" website.

According to the man, a manager from PrivatBank contacted him and informed him that the sender demanded a refund for the transfers. However, he claims that this is a common scammer who, after receiving the cryptocurrency, is trying to unjustly reclaim his money received from the sale of the asset.

"There were two orders: on 07.17.2024 and 08.27.2024 to sell cryptocurrency to one counterparty, and the transfer was from one person (in his name). Three months later, a manager from PrivatBank contacted me and said that the sender was demanding a refund for the transfers. This is a typical scammer who, after receiving the cryptocurrency, is trying to unjustly reclaim my money received from the sale of the asset. The manager refused to accept evidence of the transaction from the platform, stating that 'a phone explanation is sufficient.' A week later, they completely blocked my account and terminated business relations, saying that 'unblocking is possible after contacting law enforcement and a court decision.' What court and police, if no criminal case has been opened against me, I have incurred no losses and caused none to anyone. PrivatBank is utterly incompetent: they block accounts without cause, and now I can't even check my account balances," the man complains.

PrivatBank's Response to the Man's Complaint

PrivatBank asserts that it operates strictly within the framework of current legislation and the regulatory acts of the National Bank of Ukraine, which govern banking activities. All measures are taken in accordance with internal procedures and comply with the requirements related to security and financial monitoring regulations in Ukraine.

"As a subject of primary financial monitoring, the bank is obligated to take measures aimed at preventing and combating the legalization of proceeds from criminal activities, financing terrorism, and the proliferation of weapons of mass destruction. Currently, your service is restricted," PrivatBank stated.

Upon termination of business relations, there is an option to transfer remaining funds to another bank. To transfer your funds from your accounts, you or your representative must visit any branch of the bank with the following:

• account details for an account opened in another bank in your name,
• documents confirming the authority to manage the accounts,
• identity documents,
• a document confirming registration in the State Register of Individuals - Taxpayers containing the taxpayer registration number of Ukraine,
• a request for the transfer of remaining funds.