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.
No, but apparently you don’t know the drug war is responsible for this so, if you support that policy, you’ve got no one to blame but yourself.
Fucking communist b******t there! No ones business what I take money out of my account for.
See “civil asset forfeiture” for a real eye opener/another war on drugs policy and all of it violates the 4th and 5th amendments.
Did you know Chase is one of the banks that were found guilty of felony currency manipulation and NO ONE went to prison but some kid gets busted with a joint goes to jail and gets his life ruined thanks to the war on drugs; the reason for the policy in the article?
No you see banks are just one of the businesses that own, control and run America.
Why do you think Ron Paul wanted to end the Fed and restore freedom?
No, since Americans thought it was a great idea to fight a war on drugs! That is why this kind of stuff goes on so if you support the war on drugs, you’ve got yourself to blame.
Oh please. Obama is the supreme evil while both Bushes, both Clintons and every other president who supported the war on drugs and was a puppet go without blame?
You can thank the war on drugs for this kind of nonsense.
Terry
Midge Ball
Amanda Cashatt
Richard Cragg
You can thank the war on drugs for this and anyone who thinks that war is a great idea.
Ronnie Vines
All that does is puts the government on the hook to cover deposits.
Why do you think Ron Paul and Rand Paul want to end the Fed.
No matter it’s name, it is a private corporation that has absolute control of our money, it’s supply, it’s value and our economy and government through it.
It was created with the help of the Rothschild family who own it, BTW, and whose ancestor said “give me control of a nation’s currency and I care not who writes it’s laws.”
His family along with a few others and their corporations literally control everything you eat, drink, wear, hear on media, medicine, everything you can name they now own and/or control including our government.
Start putting your $$ under your mattresses again …