Reuters
March 13, 2013
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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Wednesday, March 13, 2013
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