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frozen money

Date : 22-02-2023

Frozen money typically refers to funds that are temporarily unavailable for use due to a hold or restriction placed on the account by a bank, government agency, or other financial institution. This can happen for a variety of reasons, such as suspected fraudulent activity, compliance with regulations or court orders, or suspicion of money laundering or terrorist financing.When money is frozen, the account holder is usually not allowed to withdraw, transfer, or use the funds until the hold or restriction is lifted. The duration of the freeze can vary depending on the reason for the hold and the specific policies of the institution involved.If you believe your funds have been frozen incorrectly or unfairly, it's important to contact the institution holding the funds and follow their procedures for disputing the freeze.