An account freeze, or account block, occurs when a bank or financial institution temporarily suspends access to an individual's or entity's account. This is usually due to suspected fraudulent ...

This explains the statutory situations in which banks and authorities may freeze accounts under laws like PMLA and the Income Tax Act. The key takeaway is that freezing must have legal backing and ...

Awareness is the key to prevention, as even receiving suspicious money can invite legal action, the police said ...