Leslie R. Caldwell, former Assistant Attorney General for the Criminal Division of the DOJ, told a group of bankers while in office that they need to expand upon the ‘suspicious activity reports’ they are required to file on their customers by calling law enforcement directly on anyone withdrawing a large amount of cash, according to investor and financial blogger Simon Black.
Banks are already required to file ‘suspicious activity reports’ on their customers, with threats of fines and even jail time for directors if financial institutions don’t meet quotas.
But as investor and financial blogger Simon Black points out, last week, “A senior official from the Justice Department spoke to a group of bankers about the need for them to rat out their customers to the police.”
Assistant attorney general Leslie Caldwell gave a speech in which he urged banks to “alert law enforcement authorities about the problem” so that police can “seize the funds” or at least “initiate an investigation”.
As Black highlights, according to the handbook for the Federal Financial Institution Examination Council, such suspicious activity includes, “Transactions conducted or attempted by, at, or through the bank (or an affiliate) and aggregating $5,000 or more…”
Black provides a chilling scenario under which an attempt to withdraw your own money from your bank account could end with a home visit from the cops.
“As you pull into your driveway later there’s an unexpected surprise waiting for you: two police officers would like to have a word with you about your intended withdrawal earlier,” writes Black, who accuses banks of already operating as “unpaid government spies”.
“Do you need to withdraw cash to purchase a used car from a private seller? Or perhaps you are pulling out some emergency cash for a loved one,” writes Mac Slavo.
“Either one of these activities are now considered suspicious and if your cash withdrawal amounts to even a few thousand dollars your bank teller is under a legal requirement to alert officials about your suspected criminal activity. And before you argue that you can’t possibly be a suspect because you have done nothing wrong, consider that even being suspected of being a suspect is now enough to land you on a terrorist watchlist in America.”
The war on cash is intensifying as authorities attempt to crack down on one of the few remaining modes of anonymity.
Over in France, Finance Minister Michel Sapin hailed the introduction of measures set to come into force in September which will restrict French citizens from making cash payments over 1,000 euros.
The new regulations, introduced in the name of fighting terrorism, will also see cash deposits of over 10,000 euros during a single month reported to anti-fraud authorities.
Meanwhile, in the UK, HSBC is now interrogating its account holders on how they earn and spend their money as well as restricting large cash withdrawals for customers from £5000 upwards.
Back in America, purchasing Amtrak train tickets with cash is being treated as a suspicious activity as part of a number of behaviors that are “indicative of criminal activity”.
Banks are also making it harder for customers to withdraw and deposit cash, with Chase imposing new capital controls that mandate identification for cash deposits and ban cash being deposited into another person’s account.
The chip comes during the tribulation after the church is translated.
what a crock of c**p. it’s none of they’re business what I do with my money.
Guess when I win the lottery they are going to have several litters of kittens as I just may close the account and take my money in cash to find another bank to deposit it in or I may just keep it all in cash in my mattress. What I do with my money provided it is legal is my bussiness and my bussiness only. The taxes on it has been paid so they have no ferther intrest in my money.
Perhaps everyone should just stop using banks as a depository for their money???
What you don’t realize is that the $5000 limit has been around since Bush Senior. A way to stop “drug trafficking” and you can get your money seized under the guise of drug money. A man from Tennessee was flying down to Houston Texas to buy plants for his landscaping business about 20 years ago so he paid cash for a same day round trip ticket. He was red flagged and DEA agents picked him up and searched him finding about $8000 on him for the job he was working on. He had all of his paperwork but they still seized the money. When he went to try to get his money back, they said he couldn’t. He even threatened to get a lawyer but the government said that it wouldn’t do any good. He was not being charged with any crime but his money was for being suspected drug money and the money had to get a lawyer. He never got his legally made money back. This has been going on for years and now it’s finally coming to the surface? You all should pay a lot closer attention to the government, not just what mainstream media tells you.
At banks around our area, it is $10,000 or more that must be reported to the IRS and the bank does tell you that. At least where I bank they do.
It’s referred to as “the mark of the beast”…
I took $1500 out of my savings bank last week and deposited it in another bank to pay taxes. I had to show my drivers to deposit cash money into my checking account and the teller appoligosed and said it was a new rule
Happy anniversary. Bruce & Margaret Morgan
You are borderline schizophrenia!!