Re: Solution for Bank Account frozen by Cyber Police due to P2P Trading (India)
Thanks for your instructions & responding. I was sick for few days and didn't check the forum. I have now sent an email to Nodal officers on Monday.
I contacted her only because I couldn't get any other contact info to reach out to. Banks aren't sharing any info except the complaint number. I have lodged a complaint with the nodal officers for my banks per your instruction but no response yet. Will wait & See.
Is there any way to avoid these scams and still make some profit on P2P Trades? Everything I earn goes into loans, mostly from relatives, that my father took and lost in business. With P2P I had some real hope of clearing that debt in a year and actually save something. But now all hope is gone.
Pls suggest any way to avoid such bank freezes? I am thinking getting a merchant account of Paytm or PhonePe. Because I have observed from the statement shared by girl who transferred me that they seem to ignore merchant payments. The girl who paid me got 5K on 16th May. From 16th May to 17th May She made multiple transactions of 150 (grocery), 2500 (jewellery) & 25000 (other user). After that, she paid me 17K. Still, cops skipped all 3 accounts and blocked only mine. Maybe the cops will see that the payment happened to a merchant account, assume it's for some purchase and not freeze such accounts? Any help pls.
It is much more difficult to communicate with banks and it is necessary to assess the risks of blocking. It is easier to communicate with the police, but you must be registered as an entrepreneur and pay taxes. If you prove to the police that you are engaged in legal activities, then they will only be happy not to start a criminal case and recommend that all participants go to civil court I contacted her only because I couldn't get any other contact info to reach out to. Banks aren't sharing any info except the complaint number. I have lodged a complaint with the nodal officers for my banks per your instruction but no response yet. Will wait & See.
Is there any way to avoid these scams and still make some profit on P2P Trades? Everything I earn goes into loans, mostly from relatives, that my father took and lost in business. With P2P I had some real hope of clearing that debt in a year and actually save something. But now all hope is gone.
Pls suggest any way to avoid such bank freezes? I am thinking getting a merchant account of Paytm or PhonePe. Because I have observed from the statement shared by girl who transferred me that they seem to ignore merchant payments. The girl who paid me got 5K on 16th May. From 16th May to 17th May She made multiple transactions of 150 (grocery), 2500 (jewellery) & 25000 (other user). After that, she paid me 17K. Still, cops skipped all 3 accounts and blocked only mine. Maybe the cops will see that the payment happened to a merchant account, assume it's for some purchase and not freeze such accounts? Any help pls.
If you want to continue to engage in P2P exchanges, then you need to learn how to communicate with the police and banks.