Why is a bank account frozen by Cyber Cell? Why is a Lien placed? Why is an account held?
Let's talk about why the account gets frozen, see there are many reasons for the account getting frozen but the important one is withdrawing money from any online gaming app which is fraud money but if you do not play any Satta or gaming app and still your account gets frozen then it means that you have made or received any such transaction which was already red flagged by the cyber cell and despite being innocent you got trapped in the chain of fraud.
Now let's talk about why lien is imposed. See, when some money is received in your account and the cyber cell feels that it is fraud money, then it imposes lien on that money, which means that your fraud money will be held but your account is not blocked, only the fraud money is blocked.
- Example:-
Like you got Rs. 500 transferred to your account from UPI your friend and because that amount is fraud, a lien is imposed on it but the account remains safe.
Look, account hold or freezing are both similar but there is a difference between them, rest everything is same. Being on hold means that you can neither withdraw nor deposit any money from the account, not only cannot do any transaction and the same thing happens when it is frozen but in most of the cases the hold is imposed by the bank itself, there are very few cases in which the cyber cell has imposed the hold but the bank freezes the account only when the cyber cell has sent a legal notice on it or there is a problem due to non-availability of KYC but in case of KYC issue the bank itself unfreezes the account but in case of cyber cell you have to request for NOC only then your account gets unfrozen.
