Consumer complaint received 2024-05-20
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: Winklevoss Exchange LLC (TX)

This is a new complaint in relation to the original complaint that I made with Gemini Trust Company LLC that was never answered correctly! 

First, as an ordinary citizen with no precedent in investing in XXXX XXXX and without specialized tools or expertise to detect fraudulent activities or transactions related to money laundering, I rely heavily on the vigilance of institutions in adhering to Anti-Money Laundering ( AML ) or KYC ( Know Your Customer ) regulations and promptly addressing any suspicions that may arise. 

Between XX/XX/XXXX and XX/XX/XXXX, I transferred $ XXXX through Gemini with the idea to invest in a XXXX currency platform that ended up being a scam! 

As a new customer of their platform, Gemini was responsible for protecting my funds and informing me of any suspicious activities BUT unfortunately they failed in this regard! 
Gemini had " after the fact '' made some investigation on my account as a new member to their platform because I was making a lot of money transfer, rather than trying to warn me as a " new customer '' during these transactions in a timely manner. 

Once they contacted me in XX/XX/XXXX and I told them that I felt that I was victim of a scam, they rather cancelled my account without any explanation instead of trying to counsel me and see how I could try to recover my money! 

Once again, I have never received an alert from Gemini 's employees. Please note that the Gemini`s investigation lacks professionalism and accuracy. The transactions were made one right after another, and, therefore, Gemini had no chance not to see it - thus, I do consider that this fact indicates negligence from Gemini`s side.

Upon conducting further research into AML regulations, it has come to my attention that transactions of {$10000.00} or more are subject to reporting and preventive measures. In the case at hand, it appears that these preventive measures were not implemented, indicating a potential lapse in adherence to AML regulations.

Furthermore, the New York Department of Financial Services ( NYDFS ) highlighted that Gemini, failed to comply with certain AML laws, including customer due diligence and KYC requirements. This raises serious concerns about Gemini 's commitment to AML protocols and its implications for its financial partners.

The above clearly fits with my case! 

Also, in their response to my first claim Gemini are saying that if I have any inquiries I should be contacting the following email address : XXXX It's very interesting as I first sent an email with my dispute letter explaining my case to this exact email address on XX/XX/XXXX which was followed by reminder follow up emails on XX/XX/XXXX and XX/XX/XXXX and each one of them was TOTALLY ignored!! 

In light with the New York Department of Financial Services ( NYDFS ) findings, I believe that Gemini has failed with the stringent regulations and it is very disconcerting that the transactions on my account were not flagged or investigated promptly and timely, as these transactions seemingly violated established AML laws. 

As such, I am requesting for Gemini to compensate me for the funds that they have totally neglected to protect! I am looking forward for a rapid and positive resolution Sincerely.