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Posted by Sam Spade on March 15, 2008, 12:35 pm
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Monty Solomon wrote:
> Right now, feds might be looking into your finances
>
> Banks tip off government to possible money laundering, fraud
>
> By Thomas Frank
> USA TODAY
>
> WASHINGTON - Each year, federal agents peek at the financial
> transactions of millions of Americans - without their knowledge.
>
> The same type of information that raised suspicions about New York
> Gov. Eliot Spitzer is reviewed every day by authorities to find
> traces of money laundering, check fraud, identity theft or any crime
> that may involve a financial institution.
>
> As concerns about fraud and terrorist financing grow, an increasing
> number of suspicious deposits, withdrawals and money transfers are
> being reported by banks and others to the federal government. Banks
> and credit unions as well as currency dealers and stores that cash
> checks reported a record 17.6 million transactions to the Financial
> Crimes Enforcement Network in 2006, according to a report from the
> network, a bureau of the U.S. Treasury Department.
And, your point is? They have been doing this since the 1970s.
***** Moderator's Note *****
The point is that there are more reports than before: the
_capability__ has been there for a while, but now a lot more people
are putting information into the system, based on their own judgement
of what is suspicious.
Which calls to mind an old song:
Paranoia strikes deep
Into your heart it will creep
It starts when you're always afraid
You step out of line, the men come and take you away
Buffalo Springfield
Bill Horne
Temporary Moderator
(Please put [Telecom] at the end of the subject line of your post, or
I may never see it. Thanks!)
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