Feds direct banks to actively call cops on "suspicious" withdrawals.

[Anti Federalist]

Government Orders Banks to Call the Cops When Customers Withdraw $5,000 or More

By Jay Syrmopoulos on March 24, 2015   

http://thefreethoughtproject.com/fe...nt-customers-depositingwithdrawing-5000-cash/

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.

 

[The Gold Standard]

Well if this is going on we need to disarm the public so none of these upstanding officers get hurt SWAT raiding homes. We need an Article V convention to eliminate the 2nd amendment. Who is with me?

 

[Zippyjuan]

They lowered it- threshold for reporting large withdrawls used to be $10,000 in cash.

 

[NorthCarolinaLiberty]

I used to attend old/antique car shows. Sometimes would buy. I would take around $8,000 cash every time I went. Guess buying an old Buick makes me a criminal.


Edit: I remember calling the bank mid-week, asking them to have that amount on hand Saturday. I would explain that the car show started Saturday, so that is why I'd withdraw that day. I didn't want to carry around that large amount for half the week. The car show would just come out in the conversation, and I was not even aware of SAR.

A withdrawal is not suspicious in-and-of-itself. Not sure how I'd handle it today. I don't like to get in the face of people who just work somewhere, but their defending a policy would certainly be incentive to give them a hard time. When an employee defends policies like this, then making their job as miserable as possible is in order.

 

[NorthCarolinaLiberty]

They lowered it- threshold for reporting large withdrawls used to be $10,000 in cash.

So, does this action finally make you say, "Enough!" Do any of these types of threads have any affect on you at all? Aren't you ready to scrap the Democratic Party and convert? Come to the other side, Zip!! Converts are welcome!

 

[otherone]

They lowered it- threshold for reporting large withdrawls used to be $10,000 in cash.

deposits, not withdrawals. RICO money laundering.

 

[donnay]

If things go south really quick, you won't be able to pull $5 out of the bank. Keeping money in these institutions are crazy.

 

[Anti Federalist]

They lowered it- threshold for reporting large withdrawls used to be $10,000 in cash.

No, Zip, they did not.

The law still says $10,000.

This new "policy" seems to be just thought up out of thin air.

Regulation without Representation.

 

[Anti Federalist]

I used to attend old/antique car shows. Sometimes would buy. I would take around $8,000 cash every time I went. Guess buying an old Buick makes me a criminal.

Being a serf in modern day AmeriKa has you pegged as being a criminal.

Every one of us are criminals, and are not in compliance, every day.

It's just a matter of being caught.

 

[NorthCarolinaLiberty]

...the Justice Department has recommended that bank employees snitch on customers attempting to withdraw more than $5,000.

*

...we encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem.”

*

...now the feds are advocating that bankers actually call law enforcement themselves.

If some bank manager defends this when you ask him about it, then he definitely deserves to be given a hard time. Never let some mother fucker lackey off the hook. Give him a hard time until he is taking antacids daily.

 

[Anti Federalist]

consider that even being suspected of being a suspect is now enough to land you on a terrorist watchlist in America

That's an even better way of putting it.

In the land of the Phree, we are all suspected of being suspects.

 

[Anti Federalist]

If some bank manager defends this when you ask him about it, then he definitely deserves to be given a hard time. Never let some mother fucker lackey off the hook. Give him a hard time until he is taking antacids daily.

Antacids?

 

[NorthCarolinaLiberty]

Antacids?

I literally laffed out loud.

If only, my friend. If only...

 

[Origanalist]

I literally laffed out loud.

If only, my friend. If only...

A idea who's time has come, again.

 

[69360]

If things go south really quick, you won't be able to pull $5 out of the bank. Keeping money in these institutions are crazy.

If things go south quick, nobody will use money anymore so it's a moot point.

 

[presence]

never.
feel.
sorry.
for.
a.
bank.

fuck.
banks.

 

[Anti Federalist]

A idea who's time has come, again.

From the comment thread in the last of your sig lines:

The Walkin' Dude | December 22, 2014 at 11:55 |

If this becomes a regular thing, they won’t wait for the hundred mark before they amp up the violence. You ever put a bully in their place without them trying to cheap shot you later when they think they can get the upper hand? They’ll start patrolling in MRAPs, they’ll start doing traffic stops with MRAPs and shooting anyone who twitches at the wrong time, and they STILL won’t be held accountable. Then the war begins.

 

[Origanalist]

From the comment thread in the last of your sig lines:

And he's right.

 

[donnay]

If things go south quick, nobody will use money anymore so it's a moot point.

The money can still be used..

 

[RonPaulIsGreat]

That's why you buy a safe, and withdraw, an extra 100 every time you go to the bank. Then you have that money in your own bank.