what do the news mean when they say the goverment froze the bank accounts of a person?
In: Economics
They’re frozen like a river. Can’t do anything, can’t go anywhere. In short, the government called up the bank and told them to halt all future transactions on that specific account/s.
From there they’ll usually spend time combing through recent transactions to figure out if anything illegal was being done with that money. This is where they’d try to trace back where all the money came from and where it’s been going.
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