Unblocking 3.8 Million PLN from Frozen Foreign Accounts
Thanks to a compliance audit and proving the source of funds, a bank in Estonia unblocked transfers for a Polish exporter.
EcoExport Warszawa faced a sudden cutoff from cash when a bank in Tallinn froze their working capital. The lack of 3.84 million PLN in the account meant paralysis of payments to 14 key fruit and vegetable suppliers.
The challenge
The problem started in September 2024 during a routine AML procedure check. The bank decided that two large transfers from a counterparty in Central Asia required additional verification due to the capital's origin. Freezing the amount of 3.84 million PLN meant the company lost the ability to settle current invoices.
The financial director tried to explain the situation independently for 11 days, sending 24 messages to the support department, but received only automatic replies about the ongoing verification. The delay in payments for local farmers generated a risk of contractual penalties of 114,000 PLN weekly and threatened to break the supply chain at the peak of the season.
Our approach
Vistula Risk Solutions took over the case on October 14, 2024. Our team, consisting of 3 specialists in bank risk, immediately stopped writing emails to the general customer service office. Instead, we prepared a professional Source of Funds report, compliant with current EU guidelines, which bypassed the standard complaint path.
We screened the last 4 years of the client's cooperation with the Asian counterparty to demonstrate a consistent transaction pattern. Documentation was prepared in English and included notarized statements and phytosanitary certificates confirming the reality of the goods trade. We focused on facts, not pleas for mercy.
The solution
We provided the bank with the missing link in the form of a 42-page document package. It contained precise confirmations of customs clearances from 3 different border crossings and a logistical summary for 186 tons of frozen food. Thanks to our contacts in the correspondent banking sector, the report went directly to the desk of the compliance officer responsible for the Central European region.
We organized one 14-minute video call with a bank representative, during which our expert technically explained the settlement structure. We eliminated suspicions about the speculative nature of the transaction, proving that every euro cent came from legal food trade.
Results
The bank in Estonia fully unblocked access to funds 19 days after our entry into the case. EcoExport Warszawa regained liquidity, which allowed for the immediate settlement of arrears to suppliers and avoidance of delay penalties.
Timeline
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October 14, 2024Start of documentation audit and halting independent communication with the bank.
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October 19, 2024Submission of full Source of Funds report directly to the risk department in Tallinn.
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October 24, 2024Technical verification and call with compliance officer.
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November 2, 2024Release of the freeze and posting funds to the operating account.
"We were against a wall because the bank simply ignored us. Vistula Risk Solutions acted concretely – without fluff and empty promises. We got the money back in less than three weeks."