Asset blocking is an act that limits or completely makes it impossible for the owner to dispose of their funds in the account. This is not a physical cash seizure, but a legal or operational “freeze” of all or part of the amount. The purpose and originator of the blocking varies depending on whether it is a bank account or an exchange trading account.
In the most common sense, blockage refers to a bank account and is, as a rule, a consequence of coercive action. It often occurs based on an execution ordered by the court due to outstanding debts (loans, alimony, taxes). A criminal court (on suspicion of criminal activity) or the tax office can also issue a blocking order. In this case, the bank will block the funds up to the amount owed and will not allow outgoing payments.
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