Feds Forcing Banks to Snitch on You for “Suspicious” Withdrawals of Cash

By Cassius Methyl, Anti Media, March 25, 2015

(ANTIMEDIA) Last week a major revelation on the police state-allied practices of banks went largely unnoticed; the Department of Justice is advising banks to inform the police when a customer withdraws over $5,000.

“Imagine going to the bank to withdraw some cash.

Having some cash on hand is always a prudent strategy, and especially today when more and more bank deposits are creeping into negative territory, meaning that you have to pay the banks for the privilege that they gamble with your money.

You tell the teller that you’d like to withdraw $5,000 from your account. She hesitates nervously and wants to know why.

You try to politely let her know that that’s none of the bank’s business as it’s your money.

The teller disappears for a few minutes, leaving you waiting.

When she returns she tells you that you can collect your money in a few days as they don’t have it on hand at the moment.

Slightly irritated because of the inconvenience, you head home.

But as you pull into your driveway later there’s an unexpected surprise waiting for you: two police officers would like to have a word with you about your intended withdrawal earlier…

If this sounds far-fetched, think again. Because it could very well become a reality in the Land of the Free if the Justice Department gets its way.”sovereignman.com

It looks like measures are being taken to further ally banks and police/government. A simple tip could get funds confiscated or an investigation started for a variety of reasons and can lead to various consequences, even if the person is innocent.

According to the Wall Street Journal,

“The vast majority of financial institutions file suspicious activity reports when they suspect that an account is connected to nefarious activity […] But, in appropriate cases, we encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem,” assistant attorney general Leslie Caldwell said.

Some banks already have close relationships with law enforcement, said Kevin Rosenberg, chair of Goldberg Lowenstein & Weatherwax LLP’s government investigation and white collar litigation group. Ms. Caldwell’s remarks “speak to moving forward in a more collaborative way,” said Mr. Rosenberg.

According to Zero Hedge, federal regulations in the Land of the Free require banks to file “suspicious activity reports”, or SARs, on their customers; it’s not optional. Banks have minimum quotas of SARs they need to fill out and submit to the federal government.If they don’t file enough SARs, they can be fined, lose their banking charter, and, yes, bank executives and directors can even be imprisoned for noncompliance.

This is the nature of the financial system in the Land of the Free.

Chances are your banker has filled one out on you—they submitted 1.6 million SARs in 2013 alone.

Knowing how the government operates, there is usually much more beneath the surface that you can see. One admission like this is usually indicative of an entire process, an entire set of practices that only those working within the system are fully aware of. Please share this information with as many people as possible, we need to shed more light on these practices which are a grotesque violations of privacy rights.


This article (Feds Forcing Banks to Snitch on You for “Suspicious” Withdrawals of Cash) is free and open source. You have permission to republish this article under a Creative Commons license with attribution to the author and TheAntiMedia.org. Tune in to the Anti-Media radio show Monday through Friday @ 11pm Eastern/8pm Pacific. Help us fix our typos: edits@theantimedia.org.

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