Covered at Reason 24/7: Spy Agencies To Scrutinize Americans’ Financial Records Under White House Plan

b148reason 247 5 Covered at Reason 24/7: Spy Agencies To Scrutinize Americans Financial Records Under White House Plan

Just in case you were feeling neglected,
unloved and perhaps even unprobed in a freaky,
UFO-abduction sort of way, the Obama administration has a proposal
that’ll make sure you never feel alone again. Well, at least your
financial records will never feel alone again. Yes, that’s right,
the White House wants to let intelligence agencies have access to
everybody’s financial records. Just to make sure you’re not a
terrorist, you understand. You’re not, are you? What’s with these
credit card bills from …?
From
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).

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Covered at Reason 24/7: Spy Agencies To Scrutinize Americans’ Financial Records Under White House Plan


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