What does it mean to freeze assets and bank accounts
Asked by admin @ in Social Studies viewed by 306 People
What is an asset? what does it mean to freeze assets and bank accounts.
Answered by admin @
Answer:
property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Explanation:
An account freeze is an action taken by a bank or brokerage that prevents any transactions from occurring in the account. Typically, any open transactions will be canceled, and checks presented on a frozen account will not be honored. Account freezes can also be initiated by either an account holder or a third party.
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