the recommendation by an international group of financial authorities known as the Financial Action Task Force. That group, which encourages international cooperation to fight money laundering and terrorist financing, has recommended setting a threshold of no more than $1,000 above which transactions require recordkeeping of basic information about fund transmittors.
So we have an "international group" that tells our treasury and Fed what to do and they say......okay?
This is BS, just more rules and tracking for honest American citizens under the guise of "fighting terrorism". We are already waaaaaaaaay down the slippery slope people.
So now the Feds are going to implement a recommendation that forces banks to track my company for direct-depositing my paychecks (virtually always above 1000 after taxes)?