$250: Feds Propose Even More Surveillance of Your Banking Habits


Send more than $250 overseas, essentially just enough money for a decent trip to the supermarket, and the Feds want to tag you.

(From Reason)

Forcing third parties to maintain financial records on transactions gives them an intimate window into your life. As Supreme Court Justice William Douglas wrote of the BSA (Bank Secrecy Act) in 1971:

“The records of checks—now available to the investigators—are highly useful. In a sense, a person is defined by the checks he writes. By examining them, the agents get to know his doctors, lawyers, creditors, political allies, social connections, religious affiliation, educational interests, the papers and magazines he reads, and so on ad infinitum.”

Maybe you just don’t want the data quality manager at Bank of America to have access to the knowledge that you’ve been sending money to your preferred political or religious causes.

Click here for the article.

This article was originally posted here: https://www.ac2news.com/2020/11/250-feds-propose-even-more-surveillance-of-your-banking-habits/.

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