India's Madras High Court has ruled that police cannot freeze entire bank accounts in fraud investigations, only the amount of money in them linked to fraud. The ruling follows a case in which accounts were frozen in connection with a cryptocurrency investigation.
Judge G. Jayachandran stressed that freezing entire accounts deprives individuals of their livelihood and financial stability. He noted that account holders often do not know why their accounts are frozen, and when they find out, they have already suffered significant losses in their day-to-day financial and business transactions.
Indian court bars police from freezing entire bank accounts in cryptocurrency fraud investigation
2024-09-15 16:38:55
India Madras High court ruling police fraud investigation cannotdesk3cryptocurrencydesktopCrypto News
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