Keeping a Business Running Through a Freeze

When a freeze hits your business

A frozen personal account is stressful. A frozen business account also hits your staff, suppliers and customers, because they all depend on it.

What the business needs now is a plan. The aim is to keep essential operations going, within the law, while the freeze is dealt with.

First, list what cannot wait: wages, rent and the payments that keep you trading. Separate these from costs that can wait a few weeks.

Applying to release money for expenses

A key step is asking for money to be released. Under AMLA 2001 s44A, account holders may apply in writing to the enforcement agency that made a section 44 freeze to release money for reasonable living or business expenses ^[f1].

This applies to a section 44 freeze. You apply in writing to the enforcement agency that issued it. It does not go to court.

The request can cover real costs such as wages and supplier payments. It must list each expense clearly, so careful preparation matters.

Protecting wages and suppliers

Keep clear records of wages owed and invoices due, even while the account is blocked.

Tell staff and key suppliers honestly when you expect to pay. Some suppliers may agree to a short extension if you speak up early, and an honest explanation is better than silence.

These records also support your request to release money for those exact costs.

How long the freeze can last

A section 44 freeze ends after 90 days if no charge is brought. A seizure order under s52A lapses 18 months after it is made if no charge is brought and no prosecution starts ^[f2].

Those limits help you decide what to ask to release now and what can wait. They also let you give the people you owe a realistic timeline instead of vague promises.

When the bank will not explain

Sometimes the hardest part is getting a straight answer from the bank. Use its own complaint process and put everything in writing.

If that fails, Bank Negara Malaysia’s BNMLINK on 1-300-88-5465 is an official complaints channel ^[f3]. After the bank’s internal process, the Financial Markets Ombudsman Service (FMOS) can take the complaint further ^[f4].

These routes deal with unfair or unclear treatment by the bank. They cannot lift a lawful freeze.

Continuing to trade safely

Get advice before you change how the business receives or pays money. Never hide activity or move money through someone else’s account.

A lawyer can help you tell the difference between normal steps to keep trading and anything that could look like dodging the freeze.

Write down every decision you make during this time and why. If your good faith is ever questioned, that record can help you explain.

Preparing a strong release request

A clear, documented request gives the agency something concrete to assess. The s44A application is made in writing to the enforcement agency ^[f1].

List each expense with the exact amount and why it cannot wait. Attach the invoices, wage records or contracts that prove each figure.

Show that these are normal costs for your business, not a way to move money out of reach. Bank statements from before the freeze can show your usual pattern of trading.

A lawyer can prepare the written application and help you decide what to ask for first if not everything can be released at once. If your company account is frozen now, you can send us the details on WhatsApp.

Sources

1. https://www.lawnet.com.my/amla-2001
2. https://www.bnm.gov.my/
3. https://www.fmos.org.my/en/