In an attempt to pursue terrorists across the globe, the Obama administration has proposed legislation that will give spy agencies access to citizens’ finances. Currently, the FBI is the only agency that has access to these databases, but the plan will give the CIA and NSA the same access. So does this proposition take the war on terror too far? Private investigator Kenneth Cummins explains the legality of the legislation.
Is it Time to Stop using all Banks? Obama Admin gives CIA,NSA,FBI & DHS Complete Access to Your Banking Records.
FBI Already Seizing Accounts
According to a story from Reuters, The Obama administration is in the process of giving all U.S. spy agencies full access to a massive database that contains financial data on every American citizen who banks in the country.
As the government’s war on the public ramps up, Treasury Department documents reveal a plan to monitor American Citizens through their financial transactions.
The document from the U.S. Treasury revealed Obama Administration plans that will give intelligence agencies, like the Central Intelligence Agency (CIA) and the National Security Agency (NSA), full access to the Financial Crimes Enforcement Network (FinCEN) database. FinCEN, a bureau of the United States Department of the Treasury, collects and analyzes information about financial transactions and keeps records on anyone who withdrawals more than $5,000 in cash.
If the federal government has its way, United States intelligence agencies will soon be able to sift through a massive database containing information about banking transactions of U.S. citizens.
The Obama administration is drafting a plan that will give the CIA and NSA access to a database of suspicious financial transactions that until now only law enforcement agencies have been able to access.
The database, known as Financial Crimes Enforcement Network, or FinCEN, is maintained by the Treasury Department and contains reports of suspicious customer activity that financial institutions are required by law to file. They track large money transfers and cash transactions above $10,000 and also report unusual bank accounts. It’s designed to uncover money laundering and other financial crimes, including loan fraud.