Spy on Your Customers … or Else

Freda-Digital-CreepsBy Mark Nestmann

Do you distrust the banking system? Prefer to do business in cash? Complain about the encroachment of Big Brother into every facet of your life?

If you answered “yes” to any of these questions, you’d better watch out. You’re a “person of interest” – and a growing number of businesses must report your “suspicious activities” to the feds. If they don’t, they can be fined and the responsible parties even imprisoned.

These requirements originated in a law called the “Bank Secrecy Act” (BSA). Of course, this Orwellian law has nothing at all to do with protecting bank secrecy. Indeed, the BSA has all but eliminated confidentiality.

Regulations issued under the BSA require financial institutions to notify the Financial Crimes Enforcement Network (FinCEN), a Treasury Department bureau, of any unusual transactions in which their customers engage. Reporting is mandatory for transactions that exceed $10,000 and are not the sort in which the particular customer would normally be expected to engage. For money transmitter businesses, a $2,000 threshold applies.

The businesses covered by these requirements must file “suspicious activities reports” (SARs) secretly, without your knowledge or consent. FinCEN makes the reports available electronically to every US Attorney’s office and to dozens of law enforcement agencies. No court order, warrant, subpoena, or even written request is needed to access a report.

What exactly is suspicious? According to official Treasury guidance, suspicious behavior includes:

  • Paying off a loan;
  • Objecting to completing Currency Transaction Reports (required for transactions over $10,000);
  • Changing currency from small to large denominations;
  • Buying cashier’s checks, money orders, or travelers’ checks for less than the reporting limit ($10,000 for a cash transaction);
  • Making deposits in cash, then having the money wired somewhere else; and
  • Withdrawing cash without counting the cash first.

Now, FinCEN has issued preliminary regulations that could extend these rules to investment managers. All SEC-registered investment advisers would be required to design and implement an anti-money-laundering program. They would also need to file SARs with FinCEN.

Once these rules come into effect, investment advisors would no longer be accountable to you, their client. Their highest duty, reinforced by civil and criminal sanctions, would be to act as unpaid undercover agents for the US Treasury.

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But FinCEN’s suspicious transaction reporting rules are just the tip of the iceberg. For instance, official guidance from the FBI and other government agencies indicate that all of the following actions make you a terror suspect:

Then there’s the “drug courier profile” developed by the Drug Enforcement Administration (DEA). The following profiles are all court-approved reasons to search you and your property:

  • Having a pale or dark complexion;
  • Having a Hispanic appearance;
  • Being between the ages of 25 and 35;
  • Acting too nervous or too calm;
  • Carrying $100, $50, $20, $10, or $5 bills;
  • Wearing casual clothing;
  • Wearing perfume;
  • Having window coverings on your personal residence;
  • Buying a one-way or round-trip airline ticket; and
  • Being among the first, last, or middle group of passengers off of an airplane.

As Richard Miller expressed in his landmark book, Drug Warriors and Their Prey,

[B]eing a citizen is sufficient cause to suspect a person of criminal conduct, thereby constricting civil liberties protections for that person. That situation is hard to distinguish from the legal status of citizens of Nazi Germany.

In a world that views virtually everything you do as suspicious, there aren’t a lot of options to protect yourself. Indeed, simply by expressing your interest in privacy, asset protection, precious metals, or any of the other topics I cover routinely, you’re likely on one government watch list or another already.

However, you can take steps to avoid having a bank or other financial institution – including an investment manager – file an SAR on you. If you’re considering doing anything out of the ordinary in your account, talk to an officer at the bank, brokerage, or other financial institution first. For instance, you might want to let someone know before you pay off a loan or make or receive a large transfer.

If you have a reasonable explanation for the transaction, it’s much less likely to set off an alarm. And in a country in which all citizens are considered criminal suspects, that’s definitely something you want to avoid.

Also Read: 25 Reports That Can Put You On The Terror Watch List

Image Credit: Anthony Freda Art

You can read more from Mark Nestmann at Nestmann.com

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14 Comments on "Spy on Your Customers … or Else"

  1. These are the rabid acts of bank employee’s in lock-step with the NWO psy-op/ police/ ‘nanny’ state…. being powered by increasingly insecure & disenfranchised people that are afraid of losing their jobs… or…. have lost their jobs in the ever diminishing private sector …& are now eagerly lining up for the revolving door (secure) govn’t jobs… to sociopathically rat out their fellow Americans for a paycheck…pathetic people driven to heinous acts by the psychopath overlord 0.001%er’s….predictable & disgusting behavior that has been intentionally orchestrated by a relative few diseased ‘uber’ control freaks…(imo)

    • TARDISOFGALLIFREY | September 19, 2015 at 1:50 pm | Reply

      I think we should all just start reporting each other and everybody to DHS as terror suspects, and overwhelm them with reports!

  2. Obama and his dirty NWO is very busy, wake up America, you will become a number to these savages and nothing more. Impeach that lying fake Obama.

    • He will never be impeached. Obama has too much dirt on all of Congress
      and the Politicians all over the country. Just look at what he did to Senator
      Menendez from New Jersey who didn’t go along with him and voted against
      the Iran Nuclear Agreement. Obama is vicious. He goes after people that do
      not agree with him. The MSM is also afraid of Obama. They never critical of

      • Obama is a lowlife scum, Congress and the Senate is full of unAmerican cowards and Obama toy boys who will do anything that thug tells then to do.

        • TARDISOFGALLIFREY | September 19, 2015 at 2:01 pm | Reply

          Obama is temp CEO of Corp. U.S. DBA – “U.S. Gov.” and congress & senate are board of directors, executives, & shareholders.

      • TARDISOFGALLIFREY | September 19, 2015 at 1:58 pm | Reply

        Obama is a puppet of the global elites, and does as he is told or else!

    • TARDISOFGALLIFREY | September 19, 2015 at 1:52 pm | Reply

      I keep hearing he may be the 44th. and last U.S. president.

      • I know Obama is doing his best to push the NWO on America, and Soros and the Pope as well. The NWO will be our new master and we won’t be a President, it will be the UN who take control and every communist and his mother.

    • They assigned us numbers with the social security act……gave us a commercial value and made us their chattel, and our greatest generation was none the wiser.

  3. TARDISOFGALLIFREY | September 19, 2015 at 1:47 pm | Reply

    OMG! I’m a Terrorist – I own a suspicious Cat!

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