my cousin sold his bitcoin to a guy in Thailand and that person made direct payment to my cousins bank account in Singapore from his Thailand bank but now the bank in Singapore is asking my cousin to produce his income source and has freeze that transaction money in his account. my concern is does the bank have that authority to stop my cousin from taking money out from his account and give such reason or excuses ?
is there any legal solution ? is it possible to sue the bank ?
Usually large amounts of money will always be asked by each BANK, it is a procedure that is owned by each bank to avoid money laundry.
So in my calculation it is better for me to divide up some nominal money and it can make us comfortable in making transactions.