Frozen Bank Account and the Solution

Frozen bank accounts can be divided into 2 types:

Bank account freezing;
Judicial freezing;

There are two conditions of bank account freezing under the first type of bank account freezing

Banks in some countries and regions do not allow bank accounts to participate in digital asset transactions (for example, due to the remarks of BTC, ETH, USDT, etc., which are monitored by the bank's risk control system), so when an account involves digital asset transactions, Will be frozen by the bank or suspend some trading rights;

It is also possible that the behavior of this account triggered the bank's anti-money laundering system (such as late-night large-value transfers, frequent multi-person transactions, long-term balances in the card, etc.).

In general, banks do not directly freeze bank cards, but only limit your non-counter business or “pay only”, that is, suspend some of your trading privileges.

How to deal with this situation?

Contact your bank account directly and provide your relevant information (usually explaining the reasons for the funds) according to the bank's requirements.

How can this situation be prevented?

First, when dealing with buyers, buyers and sellers can not note sensitive words such as USDT, BTC, and digital currency.

Second, the market maker should not use only one bank card, you can prepare a few more, and change it after a while.

The second type is the most concerned and most painful judicial freeze.

The logic of judicial freezing varies according to the judicial procedures of each country. But roughly the same.

After the victim was defrauded, he reported the case to the police. The police blocked the bank account number on the relevant fund line according to the bank account that the victim had traveled. For example, the victim's money is given to the bank account A, A is also called to the bank account B, B is also called to the bank account C, and then extended to D, E, F; then it is possible that A, B, C, D, E, and F will all be frozen, and B, C, D, E, and F may be ignorant of the source of the funds.

Freezing, generally not when you receive the problematic funds, it will be frozen immediately. You may be frozen because the transaction was 1 month ago. But in general, it is because a certain transaction a few days ago was frozen.

Process flow:

If your bank card is frozen by the judiciary, how long do you need to check your freeze period through the bank or bank phone hotline? Where was it frozen? These two pieces of information are very important, the bank backstage will definitely show, it is best to get these two information.

Most of the judicial freezes are only temporarily frozen. In conjunction with police investigations, they will be automatically thawed within two or three working days. This does not need to be piped and automatically thawed at expiration. But also pay attention to the period, the money is turned away, because it is possible that this case is not only a victim in one place, then it may be frozen in more than one place, and may be frozen again in the future. In addition, this 48 or 72 hours, not quasi-point thawing, and some will delay for a few hours, or even a half-day.

The second one shows freezing for half a year. In general, you receive funds directly in question, or are close to the source of the problematic funds, and may be frozen for half a year. Of course, due to the different methods handled by the local judicial authorities, some areas are directly frozen for half a year.

Emergency treatment

Contact the local police as soon as possible and ask the police to provide you with your payment, which has led you to be implicated. If they provide it, then provide relevant information as required by the local police. Relevant information is generally used to explain why you have this money transfer. Therefore, in general, it includes the order record of your AOFEX legal currency transaction within a certain period of time (you can log in to the AOFEX account and click the order in the upper right corner to export the print), the bank card you are frozen, etc. In addition, if the police need you to provide the personal information of a certain counterparty, please contact AOFEX online customer service, in accordance with the legal process provided by the customer service.

When the above materials are provided to the police, according to the different handling methods of the local public security system, they will give some feedback according to the different cases. For example, some will strictly request to solve the case or withdraw the case, in order to thaw, and some can only freeze the funds involved, and some places can be directly thawed. If the police refuse to directly unfreeze after you have made a transcript, you can ask about the funds involved. If the funds involved are far less than the funds being frozen, then you can apply to unfreeze the funds involved. In the legal sense, if you really do not participate in telecom fraud or money laundering, but only because the sale of digital assets is frozen, then you should be a victim of goodwill, and it is recommended to consult with relevant lawyers.