Posted on 12/23/2022 9:46:19 AM PST by Jan_Sobieski
For more than half-a-century, Uncle Sam has been giving banks the legal tools to snoop into the otherwise-private affairs of their customers. Now, they are monitoring the exercise of their Second Amendment rights.
Thanks to a recent move by the International Organization for Standardization (ISO, headquartered in Switzerland), U.S. banks are starting to build databases on their customers’ purchases of firearms and ammunition. And, of course, they are ready and quite willing to share that information with federal law enforcement in the name of providing a public service to identify “mass shooters.”
This invasion of privacy began in earnest with enactment of the Bank Secrecy Act of 1970, which mandated that banks assist federal law enforcement in uncovering, investigating, and ultimately prosecuting violations of federal law.
Banks have long complained about the burdens of compliance with the 1970 law and several related laws signed since then due to the multi-faceted regulations they spawned. But the trove of data these procedures have allowed banks to gather and database has more than paid for the costs of compliance.
These laws’ main focus, according to the Treasury Department, which has primary responsibility to their enforcement, has been money laundering. Over the years, however, the many-headed hydra we call the system now includes virtually any banking customer activity that a bank employee might consider to be suspicious. In fact, banks’ primary tool in this regard is a document called a “Suspicious Activity Report” or “SAR.”
Then there is the USA PATRIOT Act, passed in the immediate aftermath of the 911 attacks…
(Excerpt) Read more at dailycaller.com ...
One of the reasons digital currency (cashless society) is being pushed
**First question: Why is the ISO located in Switzerland vs within the United States?**
Convenient for Klaus to visit when in Davos?
Not a thing about the “patriot Act” is anywhere near the zip code of Patriotic. It was a sham to begin with and has only deteriorated from there.
Uncle Sam has been giving banks the legal tools to snoop into the otherwise-private affairs of their customers.
But not the IRS or postal system okay for us but no for you.
This is called fascism. Or totalitarianism.
No joke.
I don’t like that saying things like this is not hyperbole anymore.
This bank thing is pure totalitarianism.
Trudeau did it in Canada.
All the cash users on this thread need to remember CTRs. And structuring laws.
Paying cash is just the start of not being 1984ed.
Straw purchase using old old straw purchasers with no connection to you.
In a couple of years that granddads gun collection will be untraceable anyway as it should be.
The government should have more important things to spend my tax money on.
Coming to people who buy too much gas and oil.
“The SAR Rule requires broker-dealers to file with FinCEN a report of any suspicious transaction relevant
to a possible violation of law or regulation. Generally, a broker-dealer must file a SAR for any
transaction involving funds or other assets of at least $5,000 that are conducted or attempted by, at, or
through the broker-dealer and for which the broker-dealer knows, suspects, or has reason to suspect that,
among other things, the transaction (or pattern of transactions of which the transaction is a part):
“
https://www.sec.gov/files/aml-risk-alert.pdf
Buy with cash. Your LGS likes it because no CC fees.
That’s why the WEF and our government want to go digital currency and your ability to use your own money will be based on social credits.
Pay in cash, gold, or silver.
And if all else fails, lead.
Or barter
Or a private garage sale
A friend of ours has a service where he hauls away the really old televisions for free. He removes the lead from them and then recycles the rest.
He also recycles the lead. ( ͡° ͜ʖ ͡°)
Things to look forward to when cash no longer exists.
Prior restraint,
2nd Amendment, 4th Amendment, 5th Amendment, etc....
Oh...and who defines "too much"?
OBTW, anybody else encountering 90 delays in on-line ammo orders?
No they won’t. Not the ones with access to legal
Advice, anyway
This was all predicted, not only by the Bible as well as the John Birch society as this nation is rapidly heading to Communism. The ATF has been showing up in mostly Blue States checking out Gun purchases. Last week I bought 3 guns at once so I am expecting a visit but I live in a very Pro gun State so they may know better.
Hence the war on cash.
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