Apple Cash is a service of Green Dot Bank. Green Dot Bank is regularly inspected by both federal and state regulators from multiple agencies, including the Federal Reserve Bank, Office of Comptroller of Currency and US Treasury Department.
Apple is not a bank and has no control over Green Dot Bank or the federal or state regulatory agencies. Apple does not have access to your personal or financial information. Apple played not part in the actions on your account. Any restrictions are the result of a federal investigation.
When a bank encounters suspicious activities they are required to file a SAR (Suspicious Activity Report) and the report is sent to FinCEN (Financial Crimes Enforcement Network). They report their findings in with 30 days and are told the details of their investigation. Green Dot Bank has made a decision, based on the information presented by FinCEN and past experiences with your performance and made a decision to not longer do business with you. Green Dot Bank is a private company and can do business with whomever they choose and they evidently choose to no longer do business with you.
This doesn’t mean you did anything wrong. It could be that a person or business you did business with is the real issue. You got involved because you accepted funds or sent funds that were involved in money laundering, or other illegal financial transactions. But your receipt of the funds means that you’re involved in risky behavior. Again, the bank doesn’t want to do business with you. Why? The risk is you’re involved and banks face huge fines for permitting such transactions.
There’s plenty of other suspicious activity too, such as online gambling, cryptocurrency, marijuana activities, and commercial/business transactions.
I’m happy to explain in more detail any questions or concerns you may have.
