Source: Cato Institute
by Nicholas Anthony
“Banks may look like private businesses on the outside, but they have long been deputized on the inside as undercover agents for federal law enforcement. Finance is among the most private aspects of our lives — we cover the keypad at ATMs, shred financial statements, and use multifactor authentication for online accounts. Yet what we really have is the illusion of financial privacy. Our information might be shielded from much of the general public, but not from the government. The problem stems from a series of laws now known as the ‘Bank Secrecy Act regime.'” (01/28/25)
https://www.cato.org/commentary/banks-are-narcing-you-because-congress-forces-them