At Kinesis, our mission is to provide a seamless and secure platform for managing and transacting precis metals and digital assets. As part of this commitment, we take the safety and integrity of our platform very seriously.
This means that, on rare occasions, we may need to freeze, block, or close accounts. We understand that this can be frustrating, so we want to be transparent about the reasons behind these actions and what you can do if your account is affected.
Why We Take These Actions
There are several reasons why we might need to temporarily freeze, block, or even close a Kinesis account. These decisions are never taken lightly, and they are always made to protect our users and maintain the security of the platform.
1. Security Concerns
The most common reason for freezing an account is the detection of suspicious activity. This could include unusual login attempts, unauthorised transactions, or anything that suggests your account may have been compromised. In these cases, freezing your account helps us prevent any potential fraud or theft.
2. Compliance with Regulations
As a regulated financial service, we are required to comply with strict anti-money laundering (AML) and know-your-customer (KYC) regulations. If an account is found to violate these laws, such as by engaging in prohibited transactions, we may be legally obligated to block or close the account.
3. Account Verification Issues
Sometimes, we may need to freeze or block an account due to incomplete or outdated verification information. For example, if your identity documents are expired or if we are unable to verify your information, your account may be restricted until the necessary updates are made.
4. Breach of Terms and Conditions
When you sign up for a Kinesis account, you agree to our Terms and Conditions and Privacy Policy. If an account is found to violate these terms, such as by engaging in fraudulent activities or misuse of the platform, we may need to take action, including blocking or closing the account.
What Happens When Your Account Is Affected
If we need to freeze, block, or close your account, we will do our best to inform you as quickly as possible. In most cases, you’ll receive an email or notification explaining the situation and any steps you can take to resolve the issue.
- Frozen Account: If your account is frozen, you won’t be able to make transactions or access your funds until the issue is resolved. We’ll work with you to verify your identity or address any security concerns so that your account can be unfrozen as quickly as possible.
- Blocked Account: A blocked account is typically more serious and may indicate that there are significant issues, such as potential fraud or regulatory concerns. We will provide instructions on how to address the situation, which may include providing additional documentation or explanations.
- Closed Account: In cases where an account is closed, it is often due to serious violations of our terms and conditions or legal obligations. Unfortunately, once an account is closed, it cannot be reopened. We will provide details on how to withdraw any remaining funds and how to close your account properly.
What You Can Do
If your account has been frozen, blocked, or closed, the first step is to check your email or notifications from Kinesis. We will always provide instructions on what to do next. In many cases, simply updating your information or providing additional documents can resolve the issue quickly.
If you believe there has been a mistake or if you need more information, our customer support team is here to help. You can reach out to us via the support channels on our website, and we’ll do our best to resolve the situation as quickly as possible.
Protecting Our Community
At Kinesis, our priority is to create a safe and trustworthy environment for all users. Freezing, blocking, or closing accounts is a crucial part of this mission, helping us to prevent fraud, comply with regulations, and ensure that our platform remains secure. While these actions may be inconvenient, they are necessary to protect the integrity of the Kinesis ecosystem and the safety of all our users.
We appreciate your understanding and cooperation. If you have any questions or concerns, please don’t hesitate to contact us. Your security is our top priority, and we are here to support you every step of the way.