Can I report an account freeze to the Central Bank for a transaction between friends?

Dear Inquirer,

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Jasim Al Haddad Advocates & Legal Consultant

Dear Sir,

Greetings of the day!

Yes, you can raise a complaint with the Central Bank of UAE regarding your account freeze. The Central Bank of UAE is responsible for regulating and supervising banks and financial institutions in the UAE, and they have a complaints-handling process in place for customers to raise their concerns.

To file a complaint, you can visit the Central Bank of UAE's website and fill out the complaint form. You will need to provide details of your account freeze, including the name of the bank, your account number, and the reason given by the bank for the freeze.

You can also mention that you have not received a proper response from the bank and that the transaction was between friends.

The Central Bank of UAE will then investigate your complaint and work with the bank to resolve the issue. They may also ask for additional information or documentation from you to support your complaint.

It is important to note that the Central Bank of UAE will not be able to intervene in cases where the bank has frozen your account due to suspected illegal activities or non-compliance with regulations.

You can also consider reaching out to the bank's customer service department or filing a complaint with the UAE Consumer Protection Department.

Best regards,

Sara Al Saedi Advocates & Legal Consultants

Hello,

You can raise a formal complaint with the Central Bank of the UAE if your bank has frozen your account without providing a satisfactory response.

However, it is important to understand that banks in the UAE are required to comply with anti-money laundering regulations under Federal Decree-Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations.

As part of these obligations, banks may request information about the source of funds and the nature of transactions, especially if they appear unusual or involve large sums of money.

In your case, since the bank is asking about the source of income for a transaction that occurred between friends, you should first provide the necessary documentation to explain the transaction.

This could include any supporting documents, such as bank statements, agreements, or evidence of the relationship between the parties involved.

It is crucial to communicate clearly with the bank and request written explanations regarding their concerns and the steps required to resolve the issue.

If the bank does not respond properly or the matter remains unresolved, you have the right to escalate the issue by filing a complaint with the Central Bank of the UAE.

The Central Bank provides a Consumer Protection platform for handling such cases. When filing your complaint, you should include all relevant details, such as your account information, the nature of the issue, and records of previous communication with the bank.

This will help the Central Bank assess your case and take the necessary steps.

Dear Client,

You can indeed file a complaint with the UAE Central Bank about your frozen account. First, try resolving the issue directly with your bank by providing the requested information about the transaction between friends.

If they remain unresponsive, escalate to the Central Bank. File a detailed complaint, including your communication attempts with the bank, their responses, and documentation proving the transaction's legitimacy.

Consider getting a police clearance letter if possible. The Central Bank can intervene to ensure fair treatment and proper communication from your bank.

Remember, while banks must investigate suspicious activities, they should also provide clear guidance on resolving account freezes. Legal advice may be helpful in navigating this process.

Thanks & Regards,

ABDUL WAHIED

Yes, you can raise a complaint with the Central Bank of the UAE (CBUAE) regarding the freeze on your bank account and the lack of response from your bank.

Sanadak is the first independent financial and insurance Ombudsman Unit in the UAE. It was established by the Central Bank of the UAE to help consumers resolve complaints with financial institutions and licensed insurance companies.

You can complain to the UAE Central Bank about a frozen account after exhausting communication with your bank, documenting all interactions, and formally submitting a complaint online, including account details and correspondence; the Central Bank may request further information during its investigation.

Dear questioner,

You must provide proof of the source of the transferred amounts.

Dear Questioner,

Thank you for reaching out with your concern!

I understand the difficulties you are facing regarding the freeze on your account and the bank’s request for clarification on the source of income.

Based on your situation, it is indeed possible to file a formal complaint with the UAE Central Bank. The Central Bank has a dedicated Consumer Protection Department that handles such matters, including disputes related to account freezes and inadequate responses from financial institutions.

Here’s a brief outline of the steps you can take:

- Direct Communication with the Bank:

It is advisable to first ensure that you have directly communicated with the bank, providing all necessary documentation related to the transaction. If the transaction was indeed between friends, ensure that you include any supporting evidence to validate the nature of the transaction.

- Raise a Complaint with the Central Bank:

If the bank does not provide a satisfactory response, you can submit a formal complaint to the Central Bank's Consumer Protection Department.

This can be done through their online portal or by visiting their branch. Make sure to include all relevant details and documentation, such as your account information, the communication with the bank, and the proof that the transaction was legitimate.

- Follow-up and Escalation:

The Central Bank will review your case and will facilitate communication with the bank. If necessary, they may take further action on your behalf. If the matter remains unresolved, we can discuss further legal steps to ensure that your rights are protected.

As your legal representative, I am available to assist you throughout this process, including drafting the necessary complaint or providing further advice as needed.

Please let me know if you require further assistance or if you would like me to help you draft the complaint to the Central Bank.

Kind regards,

Mohammed Salah

Legal Consultant

Yes, you can file a complaint with the UAE Central Bank regarding the account freeze if you are not receiving proper responses from the bank. The Central Bank can investigate the matter and review the procedures followed.

You can contact us for precise legal advice on this issue. We specialize in such cases and have the expertise to provide the necessary support.

Dear questioner,

Yes, you can raise a complaint with the Central Bank if your bank's complaint redressal mechanism does not accept the evidence submitted to justify the transaction.

If you need further assistance, kindly share your WhatsApp number.