Fuck Amerika.
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Government Orders Banks to Call the Cops When Customers Withdraw $5,000 or More
Washington, D.C. – In a clear escalation in the ongoing war on U.S. citizens, the Justice Department has recommended that bank employees snitch on customers attempting to withdraw more than $5,000.
Federal regulations already require banks to submit a “Suspicious Activity Report” (SAR) when, “Transactions conducted or attempted by, at, or through the bank (or an affiliate) and aggregating $5,000 or more…” according to the handbook for the Federal Financial Institution Examination Council.
The banks are required to fill a certain number of SAR reports every month. This forces them to file SARs for perfectly legal actions (such as withdrawing cash).
If using the banks as snitches, by having them file SARs on bank customers withdrawing over $5,000 dollars cash wasn’t intrusive enough, now the feds are advocating that bankers actually call law enforcement themselves.
The Wall Street Journal reports:
The U.S. Justice Department’s criminal head said banks may need to go beyond filing suspicious activity reports when they encounter a risky customer.
“The vast majority of financial institutions file suspicious activity reports when they suspect that an account is connected to nefarious activity,” said assistant attorney general Leslie Caldwell in a speech last Monday, according to prepared remarks.
“But, in appropriate cases, we encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem.”
The remarks indicate that banks may be expected to do more than just file SARs, a responsibility that itself can be expensive and time-consuming.
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.
A tip-off from a bank about a suspicious customer could lead law enforcement to seize funds or start an investigation, Ms. Caldwell said.
Don’t think for a moment that the government won’t potentially utilize this as a means of simplifying the seizure of property from innocent people with zero due process.
Mac Slavo of SHFTplan.com writes:
“Do you need to withdraw cash to purchase a used car from a private seller? Or perhaps you are pulling out some emergency cash for a loved one.
Either one of these activities are now considered suspicious and if your cash withdrawal amounts to even a few thousand dollars your bank teller is under a legal requirement to alert officials about your suspected criminal activity. And before you argue that you can’t possibly be a suspect because you have done nothing wrong, consider that even being suspected of being a suspect is now enough to land you on a terrorist watchlist in America.”
In 2013, there was a substantial expansion of the terrorist watchlist system. It authorized a secret process that requires neither “concrete facts” nor “irrefutable evidence” to designate an American or foreigner as a terrorist, according to government documents obtained by The Intercept.
So potentially you can receive a visit from the police, be put on a terror watch list, and/or have your assets seized for doing nothing other than simply withdrawing your hard earned cash from the bank.
Let that sink in for a moment.
All of that for trying to withdraw your own money from a bank!
It’s always for “our” safety… always about safety.
Just give up a little bit more freedom and exchange it for the warm fuzzy feeling of safety. Exactly how much more liberty must we give up before we finally achieve the ever elusive maximum security?
It seems everyone is a suspect in police state USA.
Published with the authorization of The Free Thought Project.
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They actually photocopied the money I won at the casino when I deposited it at our credit union, and had me fill out some damn form, all over a measely 3600 bucks. Even copied the little seneca gaming winner thingy for the file. And that was years ago at this point. When I needed cash for the roofer they were super wierd. They have been getting increasingly nosy for years now.
The US government created all the terrorists it must protect U from.
Now U are the terrorist.
Luckily I’m not well off.
You need to have more than $5,000 in the bank to withdraw more than $5,000, so I’m good.
Are congressmen exempt?
Just withdraw $500 per day at the ATM and they’ll never notice.
Banks ACTUALLY believe that YOUR money is THEIR money.
Amerikans go along with this charade without complaint. They deserve whatever happens to them. So solly.
“Just withdraw $500 per day at the ATM and they’ll never notice.” —- Admin
I’m not sure that’s true. I’m guessing they have systems that see patterns. “Oh, Look! Quinny has been taking out $500 a day for ten days. Let’s pay him a visit!”
The Bank is closed and locked and the ATM doesn’t work. Coming soon to your neighborhood.
I sold my airplane a few years back, brought the check in and told them I wanted cash, the bank told me they couldn’t do that.
I figured they meant they didn’t have that much on hand, so I told them I could wait a few days, the manager said, no, they couldn’t give me the money, period, then asked me what I was going to do with the money.
WTF says I, told her it was really none of her business, she stated again, no way that was going to happen, but she would be glad to open me a separate account.
We give quarterly profit sharing by check and we also give end of the year cash bonus’s to the guys. What a fucking deal it is to pull cash out of a bank if the amount approaches $4k. No way we will ever fill out a form to draw our money out so we have to do it in smaller increments, but I know damn well those withdrawals are being tracked.
Writing is on the wall, warning flags are up everywhere, heed the warnings or get fucked.
It would make more sense to call the cops every time CON-gress passes a law.
Stuck, “Banks ACTUALLY believe that YOUR money is THEIR money.”
First it’s not “money” it’s credit.
Second it is theirs. They just let you use it for a fee. See: Income taxes.
The banks begin to fail, the FDIC will sharply reduce the insured deposit amount, and the bail-ins will begin – turning your money, into their money?
I’ve converted to using Wampum…..got 300 bucks worth from LLPOH yesterday .
Thanks for posting this Stucky. I encourage all TBPers to contact their reps/senators and encourage support of this bill to end the “Patriot” act. This intrusive spying shit on Americans must stop!
http://www.zerohedge.com/news/2015-03-26/meet-surveillance-state-repeal-act-%E2%80%93-bipartisan-bill-kill-patriot-act
This is why I only trade in pot-latch and when the IRS shows up to question how I survive , I just act retarded.
When the Spanish landed , Loopy’s ancestors could have traded horses for the Spaniards worthless beads, but they had already consumed all available stock hundreds of years prior.
” You can ride the beast.”they said “who could have known?”
Westcoaster -Thanks for posting this Stucky. I encourage all TBPers to contact their reps/senators and encourage support of this bill to end the “Patriot” act.
Be sure to get on you knees before begging ” pullleeeeze Mr. Congressman , not all the dick at once!”
https://www.youtube.com/watch?v=igbBItLemsM
What I want to know is who draws out such paltry amounts? I mean, I would need to go into the bank five, six times a week at that rate.
dopple loopy, we potlatchers don’t do credit or debit.We demand cash and if cash is not forthcoming neither are the gifts we bestow. If you don’t have cash , the maybe a fresh tooth necklace is available ..eh?
I had similar issue when I was the treasurer for a bowling league. I wanted to deliver the season-end awards in cash, but was told I could not withdraw the required $4,000. I ended up having to write out 60 checks. This was before 9/11. I can only imagine the grief I’d encounter if I even tried that now.
Flash – that was me, being funny. Where is your sense of humor? I mean, really, who pulls five grand out five, six times a week? That would leave me short on the weekends. I would need to do it eight, nine times at least.
Peaknc – that is some true bullshit. They are happy to take your money, but make it impossible to get it out.
Re taking $500 a day out – that may still fall under the structuring laws. Anything a person does to intentionally prevent being reported is a crime, or at least it was. They were talking about changing that or not enforcing it. Do not know if it happened.
I do not have to worry much about that stuff anymore. No money, at least not much, left in US banks. Whoohoo!
Do any of you really think the Patriot Act will be repealed?
Do you think Ted Cruz is serious when he says he would abolish the IRS and repeal Obamacare?
When I heard him announce that, I got a good idea of his assessment of American voters, at least the Republican ones. Reagan couldn’t even dislodge the Department of Education.
This is making me cling to my silver and Bitcoins more and more.
My bank contacts ME OR MY WIFE when something suspicious is occurring in our account, not the authorities.
Instance One. We were on the road in Wyoming 4 years ago and got a call from the bank saying charges on our credit card were being made in NYC and Miami. Big charges. Yet they noticed that for the past week, charges in Colorado, Nebraska, South Dakota, North Dakota, and Montana. Yep, somewhere along the line, our card info got hijacked. Credit card was shut down immediately (we didn’t pay a dime), but we also carried a debit card from the same bank just to make ATM withdrawals and now used it for the rest of the trip. No muss, no fuss.
Instance Two. Last week, the bank called us and asked us about some big purchases in Tucson. Well, we usually don’t make big purchases, but my wife decided to redo the furniture in the living and dining rooms. We told the bank everything is OK and thanked them for the call.
Best bank in the U.S. Told TBPers about it several times in the past. USAA in San Antonio, Texas. Founded by military officers, still run by retired military officers, which eliminates flash as a client. Customer satisfaction routinely runs well over 95%.
Why is the title of this post “Government Orders Banks to Call the Cops When Customers Withdraw $5,000 or More”, while the link in the very first sentence after says no such thing?
I’ve withdrawn up to $7,000 cash from my bank (BB&T) without any questions except “What denominations would you like that in, sir?” Same for my credit union. Maybe this is some new rule that just took affect, however.
And Stucky, yes the bank DOES own your deposits.
@Gayle, you are probably correct w/regard to repealing Obamacare and the IRS. It’s much harder to get rid of entrenched programs and departments than it is to create them. Same as the “End the Fed” campaign. Never gonna happen.
One day, in the distant future, the pendulum will swing back in favor of citizens rights (at least one can hope for that).
Jim Quinn ….your article about 30 blocks in Philadelphia is being discussed in a article at the American Thinker blog.A much- needed conversation :Liberal policies and Race .Very interesting . Give it a read.
This has been going on for years. Try cashing a check from out of the country. Took a Canadian check in US dollars to the bank, a lousy 600 bucks, and they SENT it in to the fed without my knowledge, and charged me 20 bucks for their trouble.
SSS -Best bank in the U.S. Told TBPers about it several times in the past. USAA in San Antonio, Texas. Founded by military officers, still run by retired military officers,
Which means it is flush with money confiscated from hard working Americans for the benefit those underperforming parasitic dullards who had only one job to do and failed at it miserably…protecting freedom?…phtttt !
Llpoh – I mean, really, who pulls five grand out five, six times a week?
Small grocers who cash payroll and personal checks.. I know of several.
@SSS, customer service – much of it mandated to keep banks’ losses to a minimum – has nothing to do with this.
This has to do with laws being put into place to stop you from getting your own money out of the bank.
The law is to “protect” us, but it protects them.
And Rise Up, you don’t get it either. They don’t TELL you they are reporting you. They are just required to report you!
So, they are GUESSING if there is a box marked “reason for cash.”
Cripes people, laws and quotas apply to ALL banks, no matter how well they hide compliance from you.
I’ll bet Paris f’ing Hilton, or a Hollywood action star isn’t having these filed on them.
Meanwhile, a Chinese or Russian or Jordan citizen can bring millions into the country and buy up our land without one fucking question asked.
We Suck. I swear to god I wanna punch the next blind patriotism spouting bastard I meet.
With the banks paying a paltry .5% on savings what is the real point of having cash in the bank in the first place, just put in enough to cover your checking account and auto withdrawals at the bank and keep your cash in your gun safe.
LLoph says “Re taking $500 a day out – that may still fall under the structuring laws. Anything a person does to intentionally prevent being reported is a crime…”
Recently, people have been prosecuted for “structuring” regular withdrawals or funds transfers that are below the reporting guidelines. I’ll look for the link.
Sorry Correction: Llpoh
links concerning structuring.
http://www.forbes.com/sites/stephendunn/2014/04/19/bank-deposits-structuring-and-asset-forfeitures/
https://www.law.cornell.edu/uscode/text/31/5324
http://rt.com/usa/199883-irs-structuring-civil-asset-forfeiture/
Admin says “just withdraw $500 a day from the ATM and they will never notice”.
Bullshit- small withdrawals done close together is one of the many signs of possible money-laundering that the banks AML compliance officer and staff are trained to notice, along with about 50 other “red flags” – transactions and activities that in themselves may be innocuous, but signal to examiners that something fishy might be taking place. Making many small transfers close together to stay under reporting thresh-holds is known as “structuring”, and any partially-trained bank worker can easily spot it…..especially if there is, say, a multi-day spate of such activity that is out of keeping with previous levels and types of activity in the account.
All financial institutions, money-service businesses, casinos, and businesses dealing in large-ticket items are required to have AML procedures and deliver yearly AML training to their employees, and they are under a lot of pressure to prove that they are not being “willfully blind” to red flags of suspicious activity. “Willful blindness” can expose their personnel to criminal prosecution just as easily as actively working to facilitate money laundering.
Unless, of course, you are a TBTF financial institution whose money-washing customers are major oligarchs running billions of dollars in ill-gotten gains through your place, in which case you will mostly be off the hook. There will, every now and then, be a well-publicized case of a wealthy institution being heavily fined for allowing, say, a major drug cartel to run money through it, but the fines, though large to our eyes, tend to be small relative to the profits they made by their acts.
And, of course, the real estate industry is not subject to the AML requirements imposed on banks and brokerage firms at all. This is really nice for the Chinese and Russian oligarchs who are moving the money they made illegally in their own countries to safe havens, and in search of those havens, are paying nosebleed prices for Miami, NYC, and Los Angeles prime real estate. We can only hope that the joke will be on them when they find themselves bagholders in laughably overpriced real estate that suddenly drops to half, or less, the price they paid for it.