Sara, as has been mentioned multiple times in this thread. Verotel has apparently issued a notice months ago (did you receive it?) explaining that they are making changes to the agreement and that they will have procedures in place to be completely compliant with KYC guidelines and regulations.
Here's a link to the KYC guidelines:
http://www.worldcompliance.com/en/re...tomer-kyc.aspx
Specifically, note these two sections of the Guidelines:
- Customer Acceptance Policy – Perform due diligence with background checks to ensure that customer/entity is using their real name and not involved in terrorism or other illegal activities.
- Customer Identification Procedures - Identify and verify all customers’ identities and purposes (using reliable, independent data, information, and/or source documents) to the bank’s satisfaction.
That said, I understand you are frustrated -- and believe me, I am not personally a fan of Verotel on any level -- but I think it's a real stretch to consider a reserve and KYC regulations as "kidnapping". My understanding is that the notice of this was sent months ago. But again, I do not process with them so I have no first-hand knowledge of that.
Good luck getting it sorted out.