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Author Topic: EFF: Sending Money Overseas for the Holidays? The Government Wants to Know  (Read 1724 times)
Stephen Gornick
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December 28, 2010, 10:26:33 AM
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[...] if new rules proposed by the Financial Crimes Enforcement Network, or FinCEN, go into effect, the government will [know you transferred money] — along with your name, address, bank account number, and other sensitive financial information.

FinCEN, an agency component of the Department of the Treasury, proposed a set of rules (pdf) that would require banks and money transmitters to report to the government any cross-border electronic funds transfer.

FinCEN estimates it will receive 750 million reports every year, and the agency wants to keep the data for ten years. Once the reports are filed with FinCEN, other federal law enforcement agencies — the FBI, IRS, ICE, and the DEA — would all have access to the data.

EFF Release:
  http://www.eff.org/deeplinks/2010/12/sending-money-overseas-holidays-government-wants

EFF Comments / Response to Director Freis (PDF):
  https://www.eff.org/files/EFF%20Comment_Cross-Border%20Transmittal%20of%20Funds.pdf

Rules proposed by FinCEN (PDF):
  http://edocket.access.gpo.gov/2010/pdf/2010-24417.pdf

Submit Your Comments:
  http://www.regulations.gov/#!submitComment;D=FINCEN-2010-0002-0001

Donate to EFF with Bitcoin:  https://www.eff.org/helpout

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SmokeTooMuch
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December 28, 2010, 11:35:44 AM
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Yet another reason for using Bitcoin (via encrypted connections).

Date Registered: 2009-12-10 | I'm using GPG, pm me for my public key. | Bitcoin on Reddit: https://www.reddit.com/r/btc
You like what I'm doing? Why don't you send me a coin: 17Pj8jpUgY6qTaKgiopL5U48zxU4rTrkuB
kiba
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December 28, 2010, 03:49:38 PM
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They always need MOAR power to solve crime! Of course, all that does is change the criminal's method of "money laundering".

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January 08, 2011, 04:03:48 PM
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They always need MOAR power to solve crime! Of course, all that does is change the criminal's method of "money laundering".

MOAR power to solve the crime - and crime remains. Wars happen, corruption, everything

bitcoin-otc my good trust (http://trust.bitcoin-otc.com/viewratingdetail.php?nick=johnyh&type=RECV&sign=POS)

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