If you guys remember that I shared something "
How to Unfreeze bank account - Detailed version that explained really well, what are the things that we can do to unfreeze the bank account whether it's debit freeze or just lien for particular amount and I wanted to talk about why and how these bank freeze happens for a while.
There are multiple reasons why bank freeze happens but the most common one is we received funds that is part of an ongoing scam that is currently being investigated.
Let's say Rahul who received funds into his bank account from Rajesh's own bank account of 5000INR. Both Rajesh and Rahul doesn't know the origin of funds but Rahul is in tier 2 here while Rajesh is in Tier 1. Now let's see how Rajesh received this funds and let's say it is from Meena who bought something whether it's bitcoin or any goods or service that Rajesh provides for his survival and Rajesh uses that money to buy bitcoin and sell as part-time job on Binance p2p or any such platforms.
Who is Meena, someone is being scamming people in many ways like social engineering scams, fake reviews, part-time job scams and thousands of others provides a bank account that receives funds from different users who thinks they are buying something, or as a fee for a course, etc.and after a while they realize they are being tricked by a scammer called Meena and raise complaint using bank account details and necessary documents then the cyber crime department investigate and block all the TXs went from Meena's account but the twist is by the time these things are happening Meena will be successfully sold all their INR to some goods or simply bought bitcoin with it this is where Rajesh comes into the picture and Meena just vanished without any trace. So the police department assumes that the funds that are channeled through Meena's account is still in the hands of the scammer but what really happens is, both Rajesh and Rahul — completely unaware of the scam — become collateral victims in this chain of transactions.
Rajesh, who only thought he was doing a legitimate P2P trade by accepting INR from Meena and sending her Bitcoin in return, unknowingly becomes part of a scam trail. Rahul, who later receives funds from Rajesh. As a result, the bank is instructed to freeze the accounts involved in the chain, not just Meena’s. Unfortunately, Rajesh and Rahul, who didn’t know the origin of the funds, now face a bank freeze without understanding what they did wrong. The actual scammer is in lose while the victims has to face the investigation and proves that they are not part of this.
This is how innocent P2P traders get caught in financial crime investigations. And because of the law is built to freeze first and ask questions later to prevent further laundering or withdrawal, these innocent users end up locked out of their funds.
*I tried to keep it short as much as I can while explaining how these things works, hope this might be helpful to understand how who didn't do anything still get in trouble because of the laws and how these things are processed in our country.
