Categories: FinanceNews

Brazilian Prosecutor Freezes Facebook’s Bank Account

If there’s one thing about the financial system everybody should be afraid about, it is the chance of having funds frozen indefinitely. Facebook, of all companies, saw US$11.7m frozen by a Brazilian prosecutor over their failure to provide WhatsApp data to the government. Privacy invasion is running rampant all over the world, and going after financial means is one way to ensure governments get what they want.

Centralized Power Is Beneficial For Freezing Funds

Albeit most people never hope to deal with a bank account being frozen, it can happen to any of us at any given time. Even giant companies such as Facebook are not safe from harm, as one of their Brazilian bank accounts was frozen by the country’s prosecutor. Earlier this year, Facebook failed to comply with a court order to hand over WhatsApp user data. Granted, these users were suspected of criminal activity, but there was no transparency as to what these claims were based on precisely.

The frozen funds correspond to “fines” for failing to comply with the court order, according to the Brazilian prosecutor’s office. It is worrisome to see one person being able to freeze anyone’s funds at will, regardless of whether a corporation or an individual owns the bank account. Scenarios like these shouldn’t even be possible in the first place.

In cases like these, jurisdiction usually plays a big role. Facebook argued the data of these WhatsApp users belonged to service operators outside of Brazil. Without international cooperation, obtaining that information would be illegal. However, the Brazilian prosecutor had no interest in this train of thought and dismissed it immediately.

Related Post

Moreover, WhatsApp has been shut down three times in Brazil since last December. For now, it seems this trend will continue until government officials get what they want. All they are doing is making life harder for the consumer, and they will revolt sooner or later. But the worries extend far beyond the technological side of things.

Nothing is stopping the prosecutor in Brazil – or any other country – from freezing anybody’s bank account at will. If they even remotely suspect illegal activity, they can order to have funds frozen, and the banks will have to comply. Users should take control of their finance and not put their trust in centralized organizations.

Image credit 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

Robinhood Shiba Inu Listing Not Happening This Year, Especially After the Recent Security Incident

With Robinhood's recent security incident that leaked over 5 million users' names and email addresses,…

16 mins ago

Loopring Price Down 10%, Is LRC a Good Investment for 2022?

There's no doubt that the cryptocurrency market has been experiencing a rough couple days. Loopring's…

1 hour ago

Here’s Why Precious Metals Belong in Your Portfolio

Whether you already have a large portfolio or you’re just getting started in investing, precious…

3 hours ago

Gala Price Doubles After Town Star Nodes Announcement

Gala price is up over 93% today, making it the biggest gainer on, followed…

6 hours ago

Shiba Inu Price Holding Support as the FUD Continues

Shiba Inu's price continues to hold the $0.000049 support level amid FUD from major news…

8 hours ago

Top 5 Metaverse Coins With Over $1 Billion Market Cap

Following NFTs and Meme cryptocurrencies, Metaverse coins are undoubtedly the next big hype in crypto.…

11 hours ago

This website uses cookies.