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.
Oh please! You really need to ditch the Rep/Dem kind of c**p.
You can thank the war on drugs for this so if you support that policy, congrats, you’ve supported your own enslavement. It has been and is a war on people on behalf of big pharmacy corps.
I am going to let them pay all my bills, hell I don’t mind. Do they think we want to take over the country how stupid .
Stay out of our buisness government thieves enough of our money
Liberals?
Wake up.
You can thank the war on drugs for this c**p.
So if you support the war on drugs, you’ve got no one to blame but yourself for supporting your own enslavement.
Did you really think the weapon you allow government or beg government to use on others because it pleases you would not be used against you tomorrow?
The whole Rep/Dem, liberal/conservative thing is a load of malarkey.
If you think your enemy is your “evil other” fellow American, then you clearly have no clue what is really going on in the world and who your REAL enemies are and no it isn’t “evil Muslims” or none of that either.
And the banks aren’t controlled by govt. They’re controlled by a private corporation known as the Federal Reserve which is why your money is no different than monopoly money.
Kristi Hansen
Ronnie Vines
Scott Monaco
Darlene Harman Johnson
^^^^^
Oh boy. You all must really be behind in knowing what is going on in the world.
You can thank the war on drugs for this c**p so if you support it, congrats, you helped support your own enslavement.
You can thank the war on drugs and America’s blind worship of “law and order” and police along with their ignorance of the Constitution beyond the 1st and 2nd amendments and no knowledge of it’s purpose.
The FDIC I think was created by Congress. That puts the government in cotrol
You can thank the war on drugs for this nonsense and Americans blind worship of “law and order” and police not some low knowledge understanding of some imagined all encompassing enemy called liberal.