By Free Republic | Created at 2024-12-11 16:53:24 | Updated at 2024-12-22 07:29:34
1 week ago
Judiciary Committee: FBI Using Banks to Surveil Bank Accounts Without Warrants
Legal Insurrection ^ | Dec 10, 2024 | Mary Chastain
Posted on 12/11/2024 8:08:49 AM PST by MtnClimber
“…as a condition of participating in the modern economy, Americans are forced to disclose details of their private lives to a financial industry that has been too eager to pass this information along to federal law enforcement.”
A report from the House Judiciary Committee and Government Weaponization Subcommittee exposed the FBI for abusing the Bank Secrecy Act (BSA) to spy on Americans’ bank accounts without a warrant.
“Documents show that federal law enforcement increasingly works hand-in-glove with financial institutions, obtaining virtually unchecked access to private financial data and testing out new methods and new technology to continue the financial surveillance of American citizens,” according to the report FINANCIAL SURVEILLANCE IN THE UNITED STATES: HOW THE FEDERAL GOVERNMENT WEAPONIZED THE BANK SECRECY ACT TO SPY ON AMERICANS.
The BSA requires financial institutions to file Suspicious Activity Reports (SAR) if they witness any transactions that raise red flags, such as cash transactions exceeding $10,000.
However, the law prohibits federal law enforcement from asking about a bank’s customer information without a legal process.
“All Americans should be disturbed by how their financial data is collected, made accessible to, and searched by federal and state officials, including law enforcement and regulatory agencies,” the committees added. “With the rise in e-commerce and the widespread adoption of cash alternatives like credit cards or peer-to-peer payment services, the future leaves very little financial activity beyond the purview of modern financial institutions or the government’s prying eyes.”
Here’s a mic drop (emphasis mine): “This is because, as a condition of participating in the modern economy, Americans are forced to disclose details of their private lives to a financial industry that has been too eager to pass this information along to federal law enforcement.”
Yup. Our financial institutions had no problem cooperating with the FBI. It seems a few even helped formulate ideas to spy on us.
TOPICS: Business/Economy; Society
KEYWORDS: 1984; policestate; surveillance
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1 posted on 12/11/2024 8:08:49 AM PST by MtnClimber
To: MtnClimber
What our tax dollars pay for?
2 posted on 12/11/2024 8:09:01 AM PST by MtnClimber (For photos of scenery, wildlife and climbing, click on my screen name for my FR home page.)
To: MtnClimber
the banking sector is the fed’s secret police...
3 posted on 12/11/2024 8:10:55 AM PST by wny
To: MtnClimber
Not only that, but I think the IRS is using AI to analyze bank balances to externally calculate your refund/payment.
I got a bunch of notifications from the IRS this year basically implying that I didn’t file enough on my return because of one client that messed up their 1099s. It became clear as I went along that they’re watching bank balances and have an active window of what your valid tax payment should be.
4 posted on 12/11/2024 8:14:08 AM PST by struggle
To: MtnClimber
What our tax dollars pay for?
~~~
They deliberately spy on law abiding citizens.
They deliberately conceal and protect the movement and activities of illegals.
That’s what we are paying tax dollars for.
5 posted on 12/11/2024 8:17:07 AM PST by z3n (Kakistocracy)
To: MtnClimber
6 posted on 12/11/2024 8:18:39 AM PST by nopardons
To: struggle
I bet the reverse is not followed i.e. the IRS suspecting you were over paying your estimated taxes.
7 posted on 12/11/2024 8:21:14 AM PST by Mouton (A 150MT hit may not solve our problems now but is a good start. )
To: MtnClimber
Thank you President Bush for expanind those police State powers as part of the Global War on Terror...
And just as predicted, every Administration since then has expanded them further.
We said at the time that this would be exactly this issue. I hate being right.
8 posted on 12/11/2024 8:22:35 AM PST by Dead Corpse (A Psalm in napalm...)
To: MtnClimber
It will only increase. No party is giving that up. Your medical records. Phone records. Vehicle whereabouts. Social media. What and where you shop. What you watch. What you eat. It’s too late to turn back. 9/11 was their excuse.
9 posted on 12/11/2024 8:28:13 AM PST by TornadoAlley3 ( I'm Proud To Be An Okie From Muskogee)
To: MtnClimber
Some fundamental reforms are needed, such as banks being required to notify the account holder of a SAR report being filed.
10 posted on 12/11/2024 8:29:08 AM PST by taxcontrol (You are entitled to your opinion, no matter how wrong it is.)
To: Mouton
Ironically, after I did a lot of invoice work and refiled, they notified me that they owe me a couple hundred but my refund is STILL delayed.
11 posted on 12/11/2024 8:32:13 AM PST by struggle
To: MtnClimber
The BSA requires financial institutions to file Suspicious Activity Reports (SAR) if they witness any transactions that raise red flags, such as cash transactions exceeding $10,000.
________________________________________
I wonder what would happen if - just for giggles - someone withdrew $10,000 and then deposited it two days later. And repeated it over and over again just to mess with their minds.
Ehh. The bank would probably just close their account.
12 posted on 12/11/2024 8:44:56 AM PST by Responsibility2nd (Climate Change is Real. Winter, Spring, Summer and Fall.)
To: MtnClimber
The answer to invasive privacy/financial violations on this scale is crypto currencies.
There may come a time when FedGov has complete regulatory control over Bitcoin, but they don’t yet.
13 posted on 12/11/2024 8:47:52 AM PST by Responsibility2nd (Climate Change is Real. Winter, Spring, Summer and Fall.)
To: Responsibility2nd
14 posted on 12/11/2024 8:50:10 AM PST by Responsibility2nd (Climate Change is Real. Winter, Spring, Summer and Fall.)
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