A 10-year-old girl from Arizona sold her prize-winning chickens at the Graham County Fair for $2,100, but the check was frozen and her account was closed by Chase Bank. Kinley Maner’s mother had her funds electronically deposited into Kali’s bank account after the auction. However, a day later, Chase froze the check due to suspicious activity on the phone number of the Small Stock Association, which issued the payment.
Kinley’s father, J.R. Maner, said his daughter was teaching him about strict obedience and responsibility by caring for her chickens. After showing them at the fair, Kinley put her six chickens up for auction and sold them for a significant amount. However, Chase Bank froze the check and closed Kali’s account after verifying the payment with the Small Stock Association.
According to bank officials, freezing funds and closing accounts is a protective measure used to prevent fraud or money laundering under KYC (know your customer) and AML (anti-money laundering) regulations. Kinley still hasn’t received her profits, despite multiple attempts by her mother to resolve the issue.
Source: https://finance.yahoo.com/news/arizona-girl-10-sells-prize-124000731.html