This doesnt even surprise me anymore. (1 Viewer)

IntenseSaint

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EXCLUSIVE - U.S. to let spy agencies scour Americans' finances | Reuters

The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.
The proposed plan represents a major step by U.S. intelligence agencies to spot and track down terrorist networks and crime syndicates by bringing together financial databanks, criminal records and military intelligence. The plan, which legal experts say is permissible under U.S. law, is nonetheless likely to trigger intense criticism from privacy advocates.

Financial institutions that operate in the United States are required by law to file reports of "suspicious customer activity," such as large money transfers or unusually structured bank accounts, to Treasury's Financial Crimes Enforcement Network (FinCEN).

The Federal Bureau of Investigation already has full access to the database. However, intelligence agencies, such as the Central Intelligence Agency and the National Security Agency, currently have to make case-by-case requests for information to FinCEN.

The Treasury plan would give spy agencies the ability to analyze more raw financial data than they have ever had before, helping them look for patterns that could reveal attack plots or criminal schemes.

The planning document, dated March 4, shows that the proposal is still in its early stages of development, and it is not known when implementation might begin.
 

efil4stnias

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I dont have large money transfers or unusually structured bank accounts.

So peek away. And while they are at it, feel free to add several digits to my savings account interest column.

thanks.
 

JimEverett

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The underlying law which requires financial institutions to report suspicious activities to FinCEN is the real problem.
 

Taurus

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Richard

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Guess the "Right to Privacy" doesn't extend to your finances and apparently isn't privacy from any gubment agency a POTUS may deem relevant. No way anything could go wrong by giving the NSA and CIA free reign to go through your financial dealings.
 

dtc

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Not sure what the outrage is.

Has our banking information supposedly been confidential and secure in the past?

Has any governmental agency ever been refused access to bank info?

Seriously. Cash a check for 10k and see what papers you have to fill out.

Anyway, I assumed if it's in a US chartered bank it's not private as it's clearly insured by the Federal Government.

Must have been to dumb to know my banking balances and accounts were off limits.
 

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