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 ?
When you are trusting a third party for transacting huge amount of money then these things will happen.
I think it is just a normal thing to freeze your bank account when they found abnormal transactions on our account and you agreed those terms while opening your bank account so only way to get your money back is provide the details what they were looking for.