U.S. Treasury Department Admits Sharing Bank Data With Intelligence Agencies (But With Limits)

The U.S. Treasury Department Is Sharing Bank Data With Intelligence Agencies, But With Limits -- International Business Times

Even though the U.S. Treasury Department allows intelligence agencies such as the CIA and NSA to access Americans’ banking information, there are a few limits.

At the end of last week, the Treasury described how it does give some bulk information to the National Counterterrorism Center (NCTC), but that it requires agencies to make “best efforts” to tap information only for specific cases and destroy any irrelevant data obtained in error, according to a Bloomberg analysis of a document detailing a 2010 agreement between the Treasury’s Financial Crimes Enforcement Network and the NCTC, which coordinates government anti-terrorism intelligence efforts.

“Make no mistake, financial intelligence is essential to what we do. We cannot map illicit financial networks or identify targets for actions without financial intelligence,” David Cohen, Under Secretary for Terrorism and Financial Intelligence (TFI) at the Treasury, said on June 2, citing feats that include stemming the flow of funds to Al-Qaeda and imposing economic pressure on Iran as examples of success.

Read more ....

Update #1: Treasury Discloses Limits on Bank-Data Sharing With Spy Agencies -- Bloomberg
Update #2: How safe is your money? US Treasury says it limits spy access to bank books -- RT

My Comment: No one is believing these assurances from the US Treasury .... "my gut" is telling me that all financial transactions .... like all other communications.... are being recorded and stored for future reference.

WNU Editor: The above video is from September 13, 2013 and it is about the NSA monitoring of SWIFT transactions.