WebMoney Ukraine releases frozen accounts

Amidst the political and military shift currently hankering on in the Ukraine, WebMoney has fully resumed operations.

On June 11^th 2013, officers from Ukraine’s tax services raided WebMoney’s offices, creating a strain on electronic Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. After the raid, Ukraine’s Ministry of Revenue and Fees imposed restrictions, resulting in accounts being frozen.

After the Ministry of Revenue and Fees restrictions, the Central Investigation Department also investigated WebMoney’s offices and found that activities were not consistent with the National Bank of Ukraine, forcing the accounts to remain frozen.

Today, March 17^th 2014, the firm announced all frozen accounts will be reopened, returning the withheld 60 million UAH (roughly $6.15 million) to their account owners.

"We are glad to inform you that the court order the arrest of funds in the bank accounts of Ukrainian guarantor was canceled. Thus, we were able to unlock the user’s money and today we renew activities,” stated a release by WebMoney (Translated via Google Translate).

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