Bank Account lien marked
2 months ago
Hi actually i am also stucked in P2P problem the investigating officer told me to pay counterparty the money you have received neither they will register 420 case on me.But i am innocent i have the proofs declaring that i have not commenced any crime.Moreover the police officer is not cooperting with me in this case , he is just favouring the counterpaty. please any body guide and help me in this case.
A.Dear Client,
P2P cryptocurrency or asset trading is currently neither illegal nor regulated by specific legislation in India. In case of being a victim of scams or frauds related to cryptocurrency trading, the National Cyber Crime Reporting Portal (NCCRP) is available as an initiative of the Government of India to facilitate the reporting of cybercrimes, including those involving cryptocurrencies.
When a victim reports a cybercrime involving cryptocurrency trading through the NCCRP, the Cyber Crime Cell, upon instruction, may freeze or put a lien on the victim's bank account to prevent further financial harm. The victim is then required to wait for the completion of the investigation by the relevant authorities.
The duration of the investigation can vary based on factors such as the complexity of the case, available resources, and the cooperation of the victim. Victims are advised to contact the customer service of the cryptocurrency exchange and voice their concerns as a precautionary measure. Additionally, seeking assistance from the cybercrime cell of the police is recommended for further clarification and guidance.
Section 457 of the Criminal Procedure Code (CrPC) empowers a magistrate to use discretion in ordering the conditional release of seized or frozen amounts. In situations where the victim is known but the credentials of the criminal are unknown, the police may seek a bond from the victim to release the seized or frozen money recovered from the victim's account. It is crucial for victims to cooperate with the investigating authorities to address cyber scams effectively.
P2P cryptocurrency or asset trading is currently neither illegal nor regulated by specific legislation in India. In case of being a victim of scams or frauds related to cryptocurrency trading, the National Cyber Crime Reporting Portal (NCCRP) is available as an initiative of the Government of India to facilitate the reporting of cybercrimes, including those involving cryptocurrencies.
When a victim reports a cybercrime involving cryptocurrency trading through the NCCRP, the Cyber Crime Cell, upon instruction, may freeze or put a lien on the victim's bank account to prevent further financial harm. The victim is then required to wait for the completion of the investigation by the relevant authorities.
The duration of the investigation can vary based on factors such as the complexity of the case, available resources, and the cooperation of the victim. Victims are advised to contact the customer service of the cryptocurrency exchange and voice their concerns as a precautionary measure. Additionally, seeking assistance from the cybercrime cell of the police is recommended for further clarification and guidance.
Section 457 of the Criminal Procedure Code (CrPC) empowers a magistrate to use discretion in ordering the conditional release of seized or frozen amounts. In situations where the victim is known but the credentials of the criminal are unknown, the police may seek a bond from the victim to release the seized or frozen money recovered from the victim's account. It is crucial for victims to cooperate with the investigating authorities to address cyber scams effectively.
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A.Dear Client,
Incidentally, P2P cryptocurrency/asset trading is neither illegal nor regulated by any specific legislation yet in India. The National Cyber Crime Reporting Portal(NCCRP) is an initiative of the Government of India to facilitate victims/complainants to report cybercrime including cryptocurrency scams or complaints online. However, when one is a victim of scams and frauds while trading in cryptocurrency, is advised that when any suspicious activity is detected in a trader’s exchange wallet, they should contact the customer service of that exchange, and voice their concern with the representatives as a precautionary measure to seek justice in India. So, once a cyber crime involving cryptocurrency trading is reported online to NCCRP, on the instruction of Cyber Crime Cell, the victim's Bank account is frozen/inoperative putting a lien on the account by the Bank and you have to wait for the completion of the investigation of the scam by the investigating agency. The length of time it takes to investigate a cybercrime can vary greatly depending on the complexity of the case, the resources available to the investigating agency, and the cooperation of the victim. you may visit the cyber crime cell of the Police for further clarifications and necessary guidance in the matter and extend your cooperation to get yourself free from cyber scams. Section 457 of the CrPC empowers a magistrate to use their discretion to order the conditional release of the seized/frozen amount. When the victim is known, but the credentials of the criminal who created the fake accounts are unknown, in that situation, the police seek a bond from the victim to release the seized/frozen money recovered from the victim's account. You may consult with a cyber crime expert or an Advocate handling cyber laws for further guidance and suitable steps.
Incidentally, P2P cryptocurrency/asset trading is neither illegal nor regulated by any specific legislation yet in India. The National Cyber Crime Reporting Portal(NCCRP) is an initiative of the Government of India to facilitate victims/complainants to report cybercrime including cryptocurrency scams or complaints online. However, when one is a victim of scams and frauds while trading in cryptocurrency, is advised that when any suspicious activity is detected in a trader’s exchange wallet, they should contact the customer service of that exchange, and voice their concern with the representatives as a precautionary measure to seek justice in India. So, once a cyber crime involving cryptocurrency trading is reported online to NCCRP, on the instruction of Cyber Crime Cell, the victim's Bank account is frozen/inoperative putting a lien on the account by the Bank and you have to wait for the completion of the investigation of the scam by the investigating agency. The length of time it takes to investigate a cybercrime can vary greatly depending on the complexity of the case, the resources available to the investigating agency, and the cooperation of the victim. you may visit the cyber crime cell of the Police for further clarifications and necessary guidance in the matter and extend your cooperation to get yourself free from cyber scams. Section 457 of the CrPC empowers a magistrate to use their discretion to order the conditional release of the seized/frozen amount. When the victim is known, but the credentials of the criminal who created the fake accounts are unknown, in that situation, the police seek a bond from the victim to release the seized/frozen money recovered from the victim's account. You may consult with a cyber crime expert or an Advocate handling cyber laws for further guidance and suitable steps.
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