EXCLUSIVE - U.S. to let spy agencies scour Americans' finances

(Reuters) - The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.

The proposed plan represents a major step by U.S. intelligence agencies to spot and track down terrorist networks and crime syndicates by bringing together financial databanks, criminal records and military intelligence. The plan, which legal experts say is permissible under U.S. law, is nonetheless likely to trigger intense criticism from privacy advocates.

Financial institutions that operate in the United States are required by law to file reports of "suspicious customer activity," such as large money transfers or unusually structured bank accounts, to Treasury's Financial Crimes Enforcement Network (FinCEN).

The Federal Bureau of Investigation already has full access to the database. However, intelligence agencies, such as the Central Intelligence Agency and the National Security Agency, currently have to make case-by-case requests for information to FinCEN.

The Treasury plan would give spy agencies the ability to analyze more raw financial data than they have ever had before, helping them look for patterns that could reveal attack plots or criminal schemes.

The planning document, dated March 4, shows that the proposal is still in its early stages of development, and it is not known when implementation might begin.

Financial institutions file more than 15 million "suspicious activity reports" every year, according to Treasury. Banks, for instance, are required to report all personal cash transactions exceeding $10,000, as well as suspected incidents of money laundering, loan fraud, computer hacking or counterfeiting.

"For these reports to be of value in detecting money laundering, they must be accessible to law enforcement, counter-terrorism agencies, financial regulators, and the intelligence community," said the Treasury planning document.

http://www.reuters.com/article/2013/03/13/usa-banks-spying-idINDEE9...

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Permalink Reply by WTRH-AM-AE on March 13, 2013 at 4:36pm

I bet they will spy on you if you are spending more than $200 at Walmart for groceries and I bet they track on what you are buying when it comes to food. They need to stay out of our business, they are not coming over to have dinner with us !! They want to know what you are buying for breakfast, lunch and dinner and to make sure it's GMO foods.

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Permalink Reply by holyhellbatman on March 13, 2013 at 5:08pm

well i think i may as well move to moscow

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Permalink Reply by Elyag Reed...We are Legion on March 13, 2013 at 6:26pm

Remember well the Movie 1984 - there was sequence when it was required to watch TV and on a certain night it was Sex Night with your pre-chosen mate. All this financial checking has been in place for years already. They do the thing first and then slowly advert it.

The more you have to complain about the easier it is for the next Program. Sex checking. Think about the put in your face TV sex, over and over again until it's lost much of its appeal. Then Bingo here comes FBI publishing that their own agents are spending hours pouring through porno pages. Almost makes you want to check out what you avoided all those browsing sessions.

If you wanted to control a large group of people what would be required. Affect their religion, their media, their jobs, their homelife, their childrens education, their diet and finally - Yes their sex life.

They have progressed this thing so far, but there's still Time to listen up and get that length of Rope and do as our forefathers did...Tom, fling that noose over that Oak limb and help us lift his legs up... That's it get him up there a little higher.. look out he's starting to kick.

Meanwhile, Philip and Wally are stiring the Tar while Frank is empting the wifes mail order feather pillow into the mixture. Other members of the HOMETOWN PROTECTION TEAM (HPT) are scouring the buidlings for Statist supporters that fled the scene of the Demon-stration.

One of the 2700 Plus DHS tanks is in flames between the alley of the county building - touched off by a Homemade Flamethrower.

Yikes, a real backlash that they started and you can Finish or wait for them to pick your Mate.

We are Legion..

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Permalink Reply by gary lineberger on March 13, 2013 at 9:37pm

why cant we be friends

lol

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Permalink Reply by gary lineberger on March 13, 2013 at 9:39pm

i still say all poloice should be given a urinalysis at least monthly and the first time they test positive to steroids, they never get another job in law enforcement