Legal Definitions - frozen account

Definition: A bank account or financial account that has been restricted from access by the government or an authorized person.

Examples: An account may be frozen for various reasons, such as during a legal investigation or when hostilities erupt between two countries and each blocks access to the other's accounts.

Explanation: A frozen account is an account that has been blocked or restricted from access by the government or an authorized person. This may happen during a legal investigation or when there is a dispute between parties. For example, if two countries are in a conflict, they may block access to each other's accounts. This prevents any financial transactions from taking place between the two countries. The examples illustrate how a frozen account can be used as a tool to restrict access to funds for various reasons.