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Indian Court Bars Police From Freezing Entire Bank Accounts in Crypto Fraud Probes

Author: Content Editor
The Madras High Court in India has ruled that police can no longer freeze entire bank accounts during fraud investigations. The decision came after an account was frozen due to a cryptocurrency investigation, and the court emphasized that freezing accounts entirely disrupts people's livelihoods. The court called for investigative agencies to inform both account holders and the courts about the reasons for the freeze. The ruling was made in response to a petition filed by an individual whose account was frozen in connection with a cryptocurrency case. The judge stressed the importance of adhering to legal provisions that require notifying account holders and courts when accounts are frozen, as this is often overlooked. The judge allowed the petitioner to access their account, provided they maintained a minimum balance of the amount under investigation.

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