https://www.taxtmi.com/caselaws?id=797880 Enhanced due-diligence duties under the Prevention of Money Laundering Act require banks to verify customers, examine records, seek information and report suspicious transactions to competent agencies. These compliance obligations do not grant a bank adjudicatory or investigative power to impose an indefinite blanket freeze on a customer's entire account. KYC directions likewise support due diligence and regulatory reporting, not unilateral restrictions based solely on transaction volume or an account threshold. In the absence of statutory authority exercised by a competent authority, particularly where no FIR, criminal proceeding or complaint exists, a blanket account freeze is arbitrary and unsustainable; the account must be de-frozen. en-us Wed, 29 Jul 2026 00:00:00 +0530 Sat, 29 Aug 2026 14:35:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797880 Enhanced due-diligence duties under the Prevention of Money Laundering Act require banks to verify customers, examine records, seek information and report suspicious transactions to competent agencies. These compliance obligations do not grant a bank adjudicatory or investigative power to impose an indefinite blanket freeze on a customer's entire account. KYC directions likewise support due diligence and regulatory reporting, not unilateral restrictions based solely on transaction volume or an account threshold. In the absence of statutory authority exercised by a competent authority, particularly where no FIR, criminal proceeding or complaint exists, a blanket account freeze is arbitrary and unsustainable; the account must be de-frozen. Case-Laws Money Laundering Wed, 29 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797880