Money moving from PTSB to credit union fell foul of controls during visit to Caribbean island
The online transfer happened on August 4th but Ms Sheehan’s money simply disappeared. “When I contacted the credit union, they had no record of it while my own bank, PTSB, denied any issues.”
A spokeswoman for PTSB apologised for the delay in returning the money and said she had become tangled in the international sanction regime against Cuba which imposes “quite onerous and complex requirements on financial institutions to monitor and, where appropriate, investigate transactions to ensure they are not in breach of any relevant sanctions”.
On 30 occasions over recent decades the United Nations has repeatedly backed a non-binding resolution opposing the sanctions with 185 countries, including Ireland voting against them as recently as last month. She told The Irish Times that “from time to time this results in a transaction being paused for review where to many people it may appear to be innocuous. In this case we are satisfied that while the transaction was perfectly legitimate, it was understandable that it was identified as requiring review”.
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