Has any one got one of these "anti - money laundering" from Paypal?

[It'sNotWorthComplaining!]

I do a bit on ebay selling and received this email from Pay Pal today. About anti money laundering, and possibly maybe/ maybe not having to have my id verified to ensure terrorism is not supported via my funds.
I'm sure it's legit, but to open my Paypal account it took a lot of verification when I signed up , providing, photo id, etc etc.
This is the email I got
"Welcome to the September edition to the PayPal Business newsletter.
Important PayPal news for Business account holders

Some Business account holders have recently received, or might soon receive a request to validate your Business account information in accordance with Australian Anti-Money Laundering laws.

Under the new law, once your account reaches a certain transaction level (as determined by the Australian authorities), we are legally required to prevent you from making payments and withdrawing funds until we have verified your business account details, however you can still receive payments.

It is important that if and when you receive such a request for information that you respond within 45 days.

If you do not respond within 45 days, the law requires us to place a full limitation on your account and you will not be able to make payments, withdraw funds or receive funds.

To find out more about how Anti-Money Laundering laws might affect your account, click here. "

[Wello]

Yeah, I got one too.

[incisor]

i believe anyone with an abn

i got one months ago and had to send a bit of documentation off as they locked my account till i did :P

was painless in the end...

i have just got a second one in last couple of weeks for a club i am associated with so will have to do the routine again...

[seano87]

I just went to the Aus PayPal website, the ad bit down the bottom of the page has a link to an info page about what you have described (you may need to refresh a few times to get to the right ad - it was about the 3rd one I came across). Will take you to https://www.paypal-education.com.au/aml/ so yes it would appear to be genuine. Just be careful if you are required to do anything about it. The info pages says they try to validate you through a 3rd party first, and you only have to do something about it if they can't verify it themselves.

If you feel any reason to be suspicious, you can always contact PayPal, and only do things directly through typing in the paypal address, logging in and doing stuff through that way instead of responding to links in emails.

Seano

[It'sNotWorthComplaining!]

I don't have and ABn, but have a Premier Business account which I opened with Paypal US years ago not Australia. I had my payment on that account and had to go through a few weeks of verifying my id with the yanks, Passports, drivers licence, blah blah so they should have all the id they need.

[Wello]

I have a business that uses an PayPal for some transactions. I did what they requested in teh PayPal website personal section, pain free.