Money Transfers Could Face Anti-Terrorism Scrutiny -- Washington PostThe Obama administration wants to require U.S. banks to report all electronic money transfers into and out of the country, a dramatic expansion in efforts to counter terrorist financing and money laundering.
Officials say the information would help them spot the sort of transfers that helped finance the al-Qaeda hijackers who carried out the Sept. 11, 2001, attacks. They say the expanded financial data would allow anti-terrorist agencies to better understand normal money-flow patterns so they can spot abnormal activity.
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My Comment: The media is focusing on new wire tap powers for the internet, but the real impact on anti-terrorism activities will be in monitoring and following the flow of money.
On a side note, if it was President Bush who was advocating these added powers .... the media, civil liberties groups, academia and universities .... all of these groups will be foaming at the mouth in protest. But with President Obama in power .... I am hearing .... nothing.
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