Posted on 03/23/2015 4:38:37 PM PDT by amorphous
How can you tell if you’re living in a police state?
The short answer is that you’re living in a police state when everyone becomes a suspected criminal or terrorist. And if the following report is any indicator, then welcome to the Reich.
The Justice Department has ordered bank tellers across America to contact law enforcement if they suspect your cash withdrawal may have something to do with illicit activity. There doesn’t need to be proof, or any sort of red flag indicator – merely suspicion by the bank teller processing your transaction is now enough to have you investigated by authorities.
(Excerpt) Read more at shtfplan.com ...
Never keep any money in a bank. Only credit unions.Not FDIC.
“Papers, please.”
Are you pretty sure that credit unions are exempt from this reporting,
or are you just speculating?
Thanks in advance,
R17
Unusual banking “patterns” are how they caught Rush Limbaugh up in that Oxycontin deal.
Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, and file reports of cash purchases of these negotiable instruments of more than $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.
http://en.wikipedia.org/wiki/Bank_Secrecy_Act
I didn’t know that, wow. Good post.
NCUA same thing
This Barak Obama is a communist/socialist monster
illegally regulated the Internet and committed a million other crimes now this
no one has tried to stop Obama nor even call him out on all of this least of all the evil news media
This Barak Obama is a communist/socialist monster
Obama illegally regulated the Internet and committed a million other crimes now this
no one has tried to stop Obama nor even call him out on all of this least of all the evil news media
Republican hands are unclean as well. See post #6.
THey are controlled an audited by the NCUA itself. The NCUA is a self supprting quasi government agency. They work in concert with the FDIC but not for it. They do screen 10,000 deposits or series of deposits but where does this $5000 crap come from . There is no statutory authority on that. FDIC is trying to intimidate banks to scare them. Its Bull crap. . But FDIC doesn’t tell NCUA crap unless it is STATUTORY— You know — with Congress and the Constitution.
Look up Suspicious Activity Report (SARs). It’s a mandate in the Bank Secrecy Act for banks, credit unions and insurance companies.... They’re different than Currency Transaction Reports (CTRs).
I withdrew $8400 cash a couple of weeks ago to pay my friend/contractor for some repairs on one of my properties. So far no one has come knocking on my door.
Not the same thing, but they are under similar regs from the Treasury.
What i find most laughable is what the hell does ten grand buy nowadays ?
Wow a couple of months ago I wrote a check for a new car. I wonder what my banking info looks like?
I wonder if this is valid - updating the $10,000 required since 1970. Badly written article if the entire law has changed, why not say so?
“”According to the handbook for the Federal Financial Institution Examination Council, banks are required to file a SAR with respect to:
“Transactions conducted or attempted by, at, or through the bank (or an affiliate) and aggregating $5,000 or more…”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.