Banks Collaborate with Feds: Erosion of Your Privacy
Submitted by MAGA
Posted 3 hours ago
**Surveillance State: Are Banks Spying on You for the Feds?**
A startling investigation by the House Judiciary Committee (HJC) has unveiled disturbing practices in which American banks are effectively surveilling their clients on behalf of the federal government.
This alarming report details how the Bank Secrecy Act (BSA), originally designed in 1970 to tackle money laundering, has morphed into a tool for widespread financial surveillance of unsuspecting citizens.
According to the HJC's findings, banks are filing millions of Suspicious Activity Reports (SARs) annually. The law's low threshold for reporting—triggered by transactions exceeding just $10,000—has led to over-reporting that ensnares countless law-abiding Americans.
As a result, individuals making large purchases, such as homes or vehicles, risk being scrutinized alongside criminals, simply because their transactions exceed this outdated amount.
One of the most troubling revelations comes from an eyewitness account by FBI whistleblower George Hill, who disclosed that Bank of America provided the FBI with a list of customers who conducted transactions in Washington, D.C. around January 6, 2021, without any legal process. This unnecessary intrusion not only raises questions about the privacy rights of American citizens but also suggests a chilling potential for abuse against individuals with politically conservative viewpoints.
The report also emphasizes how the FBI has weaponized its authority to scrutinize financial activity. Using vague "extremism" indicators, the bureau has sought to identify American citizens based on innocuous behaviors, such as purchasing a Bible or engaging in political activities associated with former President Donald Trump. This practice reflects a broader trend of treating conservative Americans as potential threats simply for exercising their constitutional rights.
The growth in government employees' access to sensitive financial information without the need for a warrant raises further concerns about accountability. With millions of inquiries made into financial records, there's a palpable risk of this information being misused for political targeting.
For many, the most distressing implication of this surveillance culture is the emergence of “debanking,” where individuals deemed politically incorrect find themselves cut off from financial services altogether. Such practices echo the tactics of Operation Choke Point, aimed at restricting access to banking for industries considered disfavored by the federal government.
As banks partner with the federal government in monitoring financial behaviors, it's crucial for Americans to recognize the evolution of their financial institutions from trusted service providers to instruments of governmental surveillance.
The incoming Republican administration must prioritize transparency and champion the privacy rights of citizens before the federal government further entrenches its grip on the financial lives of Americans.
As the investigation reveals, this is not just a matter of fiscal oversight; it is a defining moment for civil liberties in America, where the right to financial privacy is increasingly under threat.
Sources:
thefederalist.com
amgreatness.com
infowars.com
A startling investigation by the House Judiciary Committee (HJC) has unveiled disturbing practices in which American banks are effectively surveilling their clients on behalf of the federal government.
This alarming report details how the Bank Secrecy Act (BSA), originally designed in 1970 to tackle money laundering, has morphed into a tool for widespread financial surveillance of unsuspecting citizens.
According to the HJC's findings, banks are filing millions of Suspicious Activity Reports (SARs) annually. The law's low threshold for reporting—triggered by transactions exceeding just $10,000—has led to over-reporting that ensnares countless law-abiding Americans.
As a result, individuals making large purchases, such as homes or vehicles, risk being scrutinized alongside criminals, simply because their transactions exceed this outdated amount.
One of the most troubling revelations comes from an eyewitness account by FBI whistleblower George Hill, who disclosed that Bank of America provided the FBI with a list of customers who conducted transactions in Washington, D.C. around January 6, 2021, without any legal process. This unnecessary intrusion not only raises questions about the privacy rights of American citizens but also suggests a chilling potential for abuse against individuals with politically conservative viewpoints.
The report also emphasizes how the FBI has weaponized its authority to scrutinize financial activity. Using vague "extremism" indicators, the bureau has sought to identify American citizens based on innocuous behaviors, such as purchasing a Bible or engaging in political activities associated with former President Donald Trump. This practice reflects a broader trend of treating conservative Americans as potential threats simply for exercising their constitutional rights.
The growth in government employees' access to sensitive financial information without the need for a warrant raises further concerns about accountability. With millions of inquiries made into financial records, there's a palpable risk of this information being misused for political targeting.
For many, the most distressing implication of this surveillance culture is the emergence of “debanking,” where individuals deemed politically incorrect find themselves cut off from financial services altogether. Such practices echo the tactics of Operation Choke Point, aimed at restricting access to banking for industries considered disfavored by the federal government.
As banks partner with the federal government in monitoring financial behaviors, it's crucial for Americans to recognize the evolution of their financial institutions from trusted service providers to instruments of governmental surveillance.
The incoming Republican administration must prioritize transparency and champion the privacy rights of citizens before the federal government further entrenches its grip on the financial lives of Americans.
As the investigation reveals, this is not just a matter of fiscal oversight; it is a defining moment for civil liberties in America, where the right to financial privacy is increasingly under threat.
Sources:
thefederalist.com
amgreatness.com
infowars.com
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