- This topic has 20 replies, 15 voices, and was last updated 1 year, 3 months ago by
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BAre you into crypto trading? Have heard about many accounts getting frozen for crypto traders?
Another reason could be a scammer’s money got transferred to your account and the victim who got scammed reported it to cyber police.
If not, then our money is indeed not safe in the Bank. -
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FWell, I’m sharing this specific scenario because it recently happened to my friend, and we had to visit the bank in person to unfreeze his account.
Here’s what happened – If you make quick transactions for example, if you receive your salary or a payment and immediately transfer the majority of the amount to a savings account or send it to your parents the bank’s automated system might flag it as suspicious activity, assuming it could be a scam. It seems to be part of their fraud detection process.
Just a heads-up to be cautious with such transactions to avoid any inconvenience!
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FThis wasn’t the case earlier, brother.
Nowadays, when you make a call, there’s even a warning about cybersecurity and fraud. It seems like banks have implemented a completely new process. This happened to my friend earlier this year when we were in Goa. When I mentioned “immediately,” I meant within the very next minute of receiving the salary or payment. The bank’s system flagged the transaction as suspicious, likely because of the speed and size of the transfer.
It’s definitely something to keep in mind to avoid any unexpected account freezes!
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PHi, Ex-banker and lawyer here.
No bank account can be frozen randomly. The freeze is initiated by either the Police (EOW) or CBI or ED or any other regulatory body and in some cases by Courts. In all these situations, banks will inform you by letter or email or SMS about why the freeze was initiated.-
BAgreed. You do know that there’s rampant account freezing scam being done by these officials? Even at Layer 6, which 5 hops. And nobody will help unless you pay them a portion of frozen value.
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PWhether it is Layer1 or Layer 6..money which does not belong to you is scammed ..if you have any other way of classifying it or dealing with it pls spell it out. I agree, some people may have earned it the right way but I cannot think of recovering it any other way.
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RHappens when scammers buy USDT on P2P quickly after scamming someone to launder the funds. The scammed money is sent to you and whomever you send it to is frozen.
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VIt happens when you unknowingly or knowingly received scammed funds in your account, it might even be like scammer goes to a wine shop, buys the liquor and pay via UPI, but once the victims which scammer duped file cyber crime complaint, the wine shop’s account will get marked lien or debit freeze even though the nature of the transaction was legitimate, the funds wine shop received were disputed so, court will pass an order to refund the victim and wine shop will have bear the cost. High value ATM withdrawals or cheque withdrawals also sometimes triggers a red flag and system automatically freezes accont. In such cases police will try to find the scammers using cctv footages at the time of transaction but you are pretty much well aware of how motivated our officials are.
Apparently, there are lot of areas in Bihar, Kolkata, Gujarat and Rajsthan which are marked as black areas where no banks allow anyone to open an account in branches in those areas (recent policy), there professional scammer rings in india which join hands with branch employees to get accounts easily, its really sad.
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