Bank Account Freezed

[Findingnemo]

After a long time, I found a right place to ask my question.

Last year, my bank account got frozen. Bank said that my account is blocked based on the instruction from Cyber Crime.

I did few P2P Trades on P2P Platform. Is that the reason?

No one has contacted me so far? Does any faced similar issue and got it resolved? If Yes, how?


Update:

I am from INDIA.

You need to get further explanation from the bank to know what is the real issue, probably someone used a hacked bank account to trade with you which could be the reason why bank freeze accounts.While trading on p2p you need to watch out for the scammers better avoid trading with new and unverified accounts.

[rexxarofmoknathal]

Plenty of banks don't allow cryptocurrency purchases or even purchases of blockchain-related goods and services like mining equipment or cloud mining plans.

This is particularly the case when you live in a less free society, such as China and many middle-eastern countries.

This is exactly why you should suck F.U to the banks, and just use DeFi or go full crypto.

Alternatively, you can use one of the myriad crypto friendly bank providers, such as Revolut etc.

[Bitcoin_bullish]

Alternatively, you can use one of the myriad crypto friendly bank providers, such as Revolut etc.

I completely agree with all the rest, but I wouldn't ever trust Revolut. I don't know if bitcointalk has a positive stance on this bank, I don't after a lot of situations that I've read happening with them. Basically, I trust no bank and absolutely despise their business model and how the EU has given so much power to banksters. But this is not my reason not to trust Revolut. There are too many red flags and similarities to Wirecard.

Perhaps going full Bitcoin without the DeFi Ponzi nonsense and without trusting any bank might be a choice.

[AakZaki]

Some transactions that are suspected of being illegal transactions may be the cause. Some large transactions that you make on the P2P cryptocurrency platform may be tracked by the bank you are using. You should ask the bank directly why your bank account is frozen. There may also be a number of reports that point to your bank account so the account freezing process must be done.

[iamaruf]

Is there any monthly limit on your bank account? Maybe the amount of money was huge that's why your Bank Account Freezed. You should contact to the bank. Sometimes bank freeze the account for big amount of money. Many people in our country faced same problem because of unusual activity ( big amount of money trx) after that they contact with bank & problem was solved. Better option is contact bank. They will give actually what to do & what was the main reason.

[erikoy]

That would be the probable reason but as far as it concerns you with regards to your bank account then you must contact your bank immediately to clear things about you. They could not arrest you with just being suspected from the cyber crime because it is the authorities duty to do it. And if the banks could explain to you why get your bank account freeze then that would be better but if not then you may ask someone to go the authority to ask something in regards to your problem. Just do not ask your friends, brothers or sisters instead someone you can hire to do it so whenever he gets to questionning and for interrogation you friends and family will not get into trouble. Mostly authority will detained if they found really your case a serious case especially if it is being tagged as big time scammer or hi jacking of cryptocurrency.

[RajaJudi]

After a long time, I found a right place to ask my question.

Last year, my bank account got frozen. Bank said that my account is blocked based on the instruction from Cyber Crime.

I did few P2P Trades on P2P Platform. Is that the reason?

No one has contacted me so far? Does any faced similar issue and got it resolved? If Yes, how?


Update:

I am from INDIA.

Any other update so far?
I want to follow your case as well as your bank because the law in this area is still limited. I want to learn more about this.
I have no experience in this kind of stuff, but I think you must talk to the bank and together find a way to get away with it. There's no way that the bank just froze your account without any further announcement.

[Kong Hey Pakboy]

It would be difficult to unfreeze your bank account if they already settle that it is related in a cyber crime because some says banks do hate cryptocurrencies. So it might be the reason why your bank account was blocked because they assume cryptocurrency is always being used in illegal activities like scams and frauds. It is also the reason why I didn't use my bank accounts in any crypto related activity because maybe my bank account will be blocked.

[Findingnemo]

After a long time, I found a right place to ask my question.

Last year, my bank account got frozen. Bank said that my account is blocked based on the instruction from Cyber Crime.

I did few P2P Trades on P2P Platform. Is that the reason?

No one has contacted me so far? Does any faced similar issue and got it resolved? If Yes, how?


Update:

I am from INDIA.

Any other update so far?
I want to follow your case as well as your bank because the law in this area is still limited. I want to learn more about this.
I have no experience in this kind of stuff, but I think you must talk to the bank and together find a way to get away with it. There's no way that the bank just froze your account without any further announcement.

For now it is completely legal to trade and hold cryptocurrencies in India since the court made a decision against their central banks circular to every banks there.But if you found doing any activities like money laundering,tax evasion then it may go against you.He need to tell from whom he received the money into his bank account to know what actually happened.

[UmerIdrees]

After a long time, I found a right place to ask my question.

Last year, my bank account got frozen. Bank said that my account is blocked based on the instruction from Cyber Crime.

I did few P2P Trades on P2P Platform. Is that the reason?

No one has contacted me so far? Does any faced similar issue and got it resolved? If Yes, how?


Update:

I am from INDIA.

I do not think this has anything to do with bitcoin discussion section ? The bank must have told you why they freeze your account. Even if they do not tell you, you can visit the bank and contact them on the phone for explanation. Thats the only benefit for the centralized system that you can reach out to the authorities easily.

[MFahad]

They said they cant do anything from their side!

They asked me to contact the Cyber Crime Branch. Before I do that i want to know what are the steps to follow...

Ask your bank if there's a way to unblock it.

If that's the reason there must be a protocol from their officials that if an account is found to have been connected with those reasons mentioned, they'll automatically put you in blacklist.

It's best for you to talk to the bank and ask what you should comply to unblock your account. If you have a huge amount of deposit there, ask them properly.

Since you are living in India, it will be better if you post this question in the Indian local board. People from India will better able to guide you on how to contact the cyber crime in your country.

[Finestream]

Cyber Crime or the Anti money laundering council?

I guess only the AMLC can give an order to block an account, either you are under investigation for a crime done online and offline.

If you are not guilty, you should not worry, your account was only freeze, it does not mean they will take your money, once the investigation is over and you are proven innocent, your bank account will be unfreeze.



Best way to do is to talk with your bank representative so you will get a clear explanation, it's only them who can give a detailed explanation.

P2P is not illegal, but you might have transacted with someone who are under the monitoring for anti money laundering.

[bearexin]

No one has contacted me so far? Does any faced similar issue and got it resolved? If Yes, how?

This is not the right place to be asking this question. If you bank has frozen your account, the only way you can solve the problem is to go to the bank and meet them face to face and discuss the procedures to get your bank account unfrozen. If you keep asking that question here I don’t think anyone here will be able to provide you with any reasonable information that will help you in solving that problem, and moreover we are likely from different countries. So, go to the bank and get the problem solved and try to be careful next time so that you don’t end up having the same problem.

P2P is not illegal, but you might have transacted with someone who are under the monitoring for anti money laundering.

Is it? How they the bank officials or other authorities will come to know that I am doing P2P for crypto purposes or getting paid or paying someone for some reasons? (For example, I do pay some freelancers and also I do get paid for freelance activities). If P2P gets illegal in my country, I guess I might need to immigrate into some other country for my living.

[Krislaw]

They must have found something suspicious about your account or you made a transaction that violated terms or one of the traders that sent you cash have some kind of suspicious transaction which was linked to your account. You should ask them what the reason is and if there is a possible solution.

No one here can give you solution.

[Cryptoreflector_666]

They must have found something suspicious about your account or you made a transaction that violated terms or one of the traders that sent you cash have some kind of suspicious transaction which was linked to your account. You should ask them what the reason is and if there is a possible solution.

No one here can give you solution.

I absolutely agree with you - there are a huge number of reasons why this could happen to your account. People here don't even know your credit history, and this is the most basic information for dealing with such issues. I think that no matter how much everyone would like to help you - I don't think it will work within this topic.

[Zionatin]

That is strange. Though India's stance on crypto is very screwed up, to begin with. How much trading were you doing? When you say frozen do you mean you cannot use it at all? Can you log in? What does the login screen say? Contact customer support or better yet go into the bank. I would change banks right away. This is why I do not like government and banking. You don't even own your own money and they can freeze it as they please for any reason they feel. Not cool. This is why I am so interested to see how much and what kind of trading you have done. More details please?

[Yatsan]

To be able for you to stop thinking about what really is the matter for the freezing of your bank account, better do seek the attention of your own bank and ask them directly of the issue you have right now. Coordinating with the bank will gradually help you to figure out if you have done something wrong that will be against the terms and conditions applied when you are opening your bank account. From that point, you can already figure out what is the problem and ask for the possible solution to resolve the problem which is to unfreeze your bank account.

If the issue root down on doing transaction with regards to cryptocurrencies and you currently reside within India, as far as I know India have first allowed then banned and allowed again the usage of cryptocurrencies but prohibit it as being use for payment option. If that is the case, better do seek legal attention on how you can resolve the problem if the issue is with that matter. After all, maybe they are just waiting for you to show up to appeal on your issue. But I think if there is really an issue, banks will send you a notice to know the problem and how you can be able to fix it out.

[erikoy]

That is strange. Though India's stance on crypto is very screwed up, to begin with. How much trading were you doing? When you say frozen do you mean you cannot use it at all? Can you log in? What does the login screen say? Contact customer support or better yet go into the bank. I would change banks right away. This is why I do not like government and banking. You don't even own your own money and they can freeze it as they please for any reason they feel. Not cool. This is why I am so interested to see how much and what kind of trading you have done. More details please?

Well in this case probably you can't trust the banks but in reality they even make our life comfortable for.not bringing cash going to malls. Just a credit card or atm will do. Thiefs can no longer be benefited in this scheme or the system. And we cant trust crypto either to our money. However, the problem.of this guy here is all.about bank accunt freeze. Probably there are other reason why he got his bank account frozen and not really all about the bitcoin trading. He did not mention that he went on the bank for clarification of his bank account.

[htsy585]

After a long time, I found a right place to ask my question.

Last year, my bank account got frozen. Bank said that my account is blocked based on the instruction from Cyber Crime.

I did few P2P Trades on P2P Platform. Is that the reason?

No one has contacted me so far? Does any faced similar issue and got it resolved? If Yes, how?


Update:

I am from INDIA.

If you didn't partake in any fraudulent activity using cryptocurrency, you should contact the nearest cyber crime authority around you because your bank can not unblock without their directives, few of my friends has had similar case but everything got clear out since they didn't participate in any fraudulent  activities and if things want to get messier, you should seek the counsel of a professional finanacial lawyer.

[theskillzdatklls]

After a long time, I found a right place to ask my question.

Last year, my bank account got frozen. Bank said that my account is blocked based on the instruction from Cyber Crime.

I did few P2P Trades on P2P Platform. Is that the reason?

No one has contacted me so far? Does any faced similar issue and got it resolved? If Yes, how?


Update:

I am from INDIA.

I used to do a fair amount of Bitcoin arbitrage years back for profit. I had to quit eventually and a big reason what what you faced. It's too easy for man in the middle attacks to do fraudulent schemes. Even if you yourself avoid the fraud, the bank will still have to deal with problems associated with your account and freeze your account and close you down for life because it's simply not worth it to them. Overall, not worth it unless if banks become much more robust which I honestly never see happening in my life time.