EXCLUSIVE - U.S. To Let Spy Agencies Scour Americans' Finances -- Reuters(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).
Read more ....
Update #1: Spy Agencies to Get Access to U.S. Bank Transactions Database -- Threat Level
Update #2: Report: Spy Agencies To Get Full Access To Massive American Financial Database -- Business Insider
Update #3: Could ‘Suspicious’ Banking Habits Put You on a Potential Terrorist Watch List? -- The Blaze
My Comment: This news sends a shiver through my spine. It makes you wonder on what will they "scour" next .... and where is the ACLU and other civil liberty groups? Sighhh .... so much for privacy rights.
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