How the Federal Government Weaponized the Bank Secrecy Act to Spy on Americans – IOTW Report

How the Federal Government Weaponized the Bank Secrecy Act to Spy on Americans

House Judiciary Committee:

WASHINGTON, D.C. – Today, the House Judiciary Committee and its Select Subcommittee on the Weaponization of the Federal Government released an interim report titled, “Financial Surveillance in the United States: How the Federal Government Weaponized the Bank Secrecy Act to Spy on Americans.” The interim report reveals how under the Biden-Harris Administration, federal law enforcement increasingly works hand-in-glove with financial institutions, obtaining virtually unchecked access to private financial data.

Key findings from the Committee and Select Subcommittee’s investigation include: 

  • The FBI has manipulated the Suspicious Activity Report (SAR) filing process to treat financial institutions as de facto arms of law enforcement, issuing “requests,” without legal process, that amount to demands for information related to certain persons or activities it considers “suspicious.”  In the days and weeks after January 6, 2021, the FBI coordinated with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to encourage financial institutions across the country to scour their data and file SARs on hundreds of Americans, if not more, without any clear criminal nexus.  The government’s access to Americans’ private data is widespread and virtually unchecked.    Financial institutions and FinCEN are expanding their capacity to surveil Americans through new, confidential projects and emerging technologies.
  MORE HERE https://judiciary.house.gov/media/press-releases/report-how-federal-government-weaponized-bank-secrecy-act-spy-americans

11 Comments on How the Federal Government Weaponized the Bank Secrecy Act to Spy on Americans

  1. May I suggest you go back and take a look see at the “Patriot Act!”.

    Caused me a certain amount of grief over that one…

    Banking records and eventually the closure of commercial account.

    7

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