Tools & Technologies IT

Link: http://syedaqeel.com/2010/05/why-payoneer-blocked-pakistan-the-truth/ Like every other Payoneer user from Pakistan I became insane after reading support email. However after coming to senses I had done some research about why Payoneer blocked Pakistan. Many readers left comments on earlier post about Payoneer ban for doing protest to Payoneer. Friends you do not need to protest Payoneer, don’t even have to blame them and they can’t help us in this situation. They have to follow policies of US regularity authorities and its what they are doing. Reason for this ban is Pakistani law makers. On March 26th, 2010 Pakistan’s Anti-Money Laundering ordinance of 2008 has expired. So right now Pakistan is a lawless country without any anti-money laundering and anti-terrorist funding laws. Due to that Asia Pacific Group on Financial Action Task Force (FATF) has put Pakistan in category III of risk countries for financial transactions. Due to absence of proper anti-money laundering laws in P...

By Aamir Attaa · Tuesday, May 4, 2010 5 Comments http://propakistani.pk/2010/05/04/payoneer-blocks-its-master-cards-for-pakistan/ Payoneer, which allows its customers to receive their payments onto a Debit MasterCard that is reloadable through western union, internet (via credit/debit cards) and other similar means, just announced that all Payoneer cards will be blocked for transactions in Pakistan. Payoneer in an email to its customers said that card holders residing in countries listed by the US government as having strategic Anti Money Laundering (AML) deficiencies won’t be able to use Payoneer debit master cards. Other countries on the list include: Angola, Ecuador, Ethiopia, Turkmenistan and Sao Tome and Principe. If your card is in use in one of the countries listed, it is strongly recommended to use all of your funds by May 31, 2010. Payoneer was widely used by freelancers to charge their customer. They used to give a url where customers could pay the bills using their credit c...

Like every other Payoneer user from Pakistan I became insane after reading support email. However after coming to senses I had done some research about why Payoneer blocked Pakistan. Many readers left comments on earlier post about Payoneer ban for doing protest to Payoneer. Friends you do not need to protest Payoneer, don’t even have to blame them and they can’t help us in this situation. They have to follow policies of US regularity authorities and its what they are doing. Reason for this ban is Pakistani law makers. On March 26th, 2010 Pakistan’s Anti-Money Laundering ordinance of 2008 has expired. So right now Pakistan is a lawless country without any anti-money laundering and anti-terrorist funding laws. Due to that Asia Pacific Group on Financial Action Task Force (FATF) has put Pakistan in category III of risk countries for financial transactions. Due to absence of proper anti-money laundering laws in Pakistan US government issued new regulations for its financial institutions....

This is a very bad news for every freelancer and web entrepreneur who was completely relying on Payoneer. In this email one question remains unanswered that users will still be able to receive funds and use Payoneer cards to make transactions to US merchants. I had asked this question to Payoneer support and now waiting for their reply. Will keep my readers updated at this situation. Dear Customer, Due to a change in requirements from our regulators, as of June 1, 2010 Payoneer cards will be blocked for transactions in the countries listed by the US government as having strategic Anti Money Laundering (AML) deficiencies. This change will affect card usage in the following countries: Angola, Ecuador, Ethiopia, Pakistan, Turkmenistan and Sao Tome and Principe. If your card is in use in one of the countries listed, we encourage you to use all funds by May 31, while transactions are still possible in these countries. Please note that beyond May 31 your card will continue to be fully functi...