TOTAL: {[ getCartTotalCost() | currencyFilter ]} Update cart for total shopping_basket Checkout

Daily Dashboard | U.S. Asks Banks for International Transfer Data Related reading: Uber concealed breach of 57M users for more than a year


U.S. authorities yesterday signaled their intention to monitor almost all bank transactions to and from the U.S., a move that is eliciting privacy concerns, the Associated Press reports. The Treasury Department's Financial Crimes Enforcement Network has asked banks to report international transactions of $1,000 or more to help detect international crimes, the report states, to take effect in 2012 if passed. Currently, only transactions of $10,000 or more are reported. Marc Rotenberg, director of the Electronic Privacy Information Center said the plan is likely to renew a long-going battle between U.S. and European governments over the disclosure of financial transactions, as evidenced by recent SWIFT negotiations. "It is a tremendous overreach by the U.S. government," Rotenberg said.
Full Story


If you want to comment on this post, you need to login.