The reasons for freezing cards can be summarized into two types, bank risk control and public security freezing.

1. Bank risk control. Bank risk control may be caused by recent frequent large-value card transfers, scattered transfers in and out, centralized transfers in and out, fast in and out, frequent transactions at night, no balance left in the account, etc., collectively referred to as transaction abnormalities. This triggered the bank's anti-money laundering risk control system.

2. Freeze by the police. Usually the account has received stolen money from other people involved in the case, either directly or indirectly. The public security will stop payment and freeze all related accounts through which the water involved in the case flows, so as to prevent the transfer of funds and facilitate the investigation of the case.

1. Bank risk control freeze

Bring your ID card and bank card to the bank where you opened the account, and submit relevant bank statement reconciliation certificates. If there are any policy instructions related to the public security department, you must also go to the local public security department to cooperate with the investigation. If the anti-fraud center controls the system, you must fill out the anti-fraud application form required by the anti-fraud center, and the funds can only be unfrozen after passing the review.

2. Deal with public security and judicial freezes.

Observe for 3 days first. Check whether the temporary suspension has turned into a formal freeze (extended for half a year). If it is formally frozen, go to the bank where you opened the account immediately to check the name of the public security unit that froze the card, the case number and the name of the police officer in charge of the case. Then get in touch with the police officer in charge to understand the reason for freezing the card and cooperate with the police's investigation. After verifying that you have not violated any laws or disciplines, your account will be unfrozen.

Regarding the latest policy on cryptocurrency speculation and whether domestic cryptocurrency speculation is illegal, you can refer to the announcement issued by the People’s Bank of China and ten ministries and commissions. The original text can be found on the official website of the People’s Bank of China.

I would like to summarize the main points:

(1) Virtual currency does not have the same legal status as legal tender.

(II) Virtual currency-related business activities are illegal financial activities. Such activities are strictly prohibited and resolutely banned in accordance with the law. If they constitute a crime as stipulated in the Criminal Law, criminal liability will be pursued in accordance with the law.

(3) Overseas virtual currency exchanges providing services to residents in my country through the Internet are also illegal financial activities.

(IV) There are legal risks in participating in virtual currency investment and trading activities.

In general, the announcement shows that my country currently attaches great importance to the risk of virtual currency trading speculation, and will take comprehensive and strict rectification measures. The wide range of departments involved and the depth of the degree will have a significant impact on the financial industry.

Finally, in conclusion, if you encounter a frozen U card, you must understand the situation immediately and deal with it in time to avoid a lot of unnecessary trouble. Of course, seeking help from professionals can also achieve twice the result with half the effort!

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