Tracking Your Cash: US Department of Justice launches ‘Operation Choke Point’

[HOLLYWOOD]

Tracking Your Cash: US Department of Justice launches ‘Operation Choke Point’

What Freedom? Another notch in the belt of 'Big Brother' as Orson Wells speaks once again. The Banksters FIAT paper big con-trick that the central banks and governments carryout . instead of issuing currency against hard assets, they issue worthless paper debt... etc etc etc the thievery never ends.

http://www.theguardian.com/money/2014/mar/23/operation-choke-point-payday-lenders-issa-banks
Operation Choke Point: the stop-and-frisk tactic of the financial industry

Trying to protect consumers from fraud, regulators might be discriminating against low-income Americans and lenders

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<figcaption>Representative Darrell Issa, a congressman from California, wants answers from Department of Justice on Operation Choke Point. Photograph: Charles Dharapak</figcaption>
You’ve heard of stop-and-frisk for criminals. How about stop-and-frisk for banks?
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There's a persistent problem in the US financial system: bad money flows through its veins like poison – money launderers, fraudsters, con artists, drug traffickers all rely on the easy electronic movement of the American dollar. Regulators have tried to stop it in various ways: by forcing banks to financially strip-search every transaction, by tracking dollars and euros and yen and rubles until the trail leads them to criminals.

This tends to be a lot of work. Why can't there be something more predictive? Something a little less Columbo and a little more Minority Report?

It may now exist. To catch fraudsters, US financial regulators have launched their own version of stop-and-frisk program called "Operation Choke Point". The regulators frisk the bank by sending a subpoena for all the financial information on their clients that could potentially be up to no good. If the government finds something suspicious, it investigates further. <figure class="element element-image" data-media-id="gu-fc-fea1e948-a591-4f3f-a8f7-d76965055faa">

<figcaption>Not that kind of operation. Photograph: ZUMA/Rex Features</figcaption> </figure> There is just one problem: just like stop-and-frisk, critics say the Operation Choke Point indirectly discriminates against the poor and against minorities.

Specifically, Operation Choke Point is sending regulators after a lot of businesses that also have legitimate uses, like payday lenders. Criminals like to use the lenders as a front for less legal transactions. But those businesses have another constituency: low-income Americans, who often don't have bank accounts and, with their bounced checks and low balances, wouldn't be welcome at your average Bank of America branch.... continued

 

[LibForestPaul]

Currency control
Progressing to stage 3?

 

[jkr]

GIT
Z33
GoOolld!

 

[angelatc]

It may now exist. To catch fraudsters, US financial regulators have launched their own version of stop-and-frisk program called "Operation Choke Point". The regulators frisk the bank by sending a subpoena for all the financial information on their clients that could potentially be up to no good. If the government finds something suspicious, it investigates further.

This sounds like fishing.

 

[oyarde]

This sounds like fishing.

Oh , it is . I deposit about $2715 in the bank with four transactions most months , the day prior I have checks written against all of it and in the mail. Three months a yr , I have more than that , but I make sure it never exceeds more than 1k more than that and I am under the radar for any scrutiny ( like 10K ).