A PATRIOT Act provision intended to track terrorists ‘ funds could turn out to be a wealth of information about NGO funding, according to a private source in Data Republican ( Small-r )’s reveals that Washington may be so afraid of Elon Musk and his DOGE boys.  ,
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” One of the lasting impacts of the PATRIOT Act”, Data R posted her source informed her, “is its requirement for financial institutions to report all transactions over ]$ 10, 000 ( listed as$ 3, 000 in Data R’s original post but quickly corrected ) ] to the U. S. Treasury—a threshold that has never been adjusted for inflation”.
Processing all that data and pursuing the bad guys or whoever is responsible for the Treasury’s Financial Crimes Enforcement Network ( FinCEN ) is in charge. But that’s where things get crazy, according to Data R’s cause.
You might want to know a little bit more about how investigating works, so keep a button in that idea for a moment.
It’s also a crime to” structure” deposits and transfers to get under the$ 10, 000 cap. If Ahmed al-Terrorlover makes several$ 9, 900 wire transfers, that could be construed as a financial crime — even if the transfers are 100 % not terror-related. Ahmad could still be responsible for structuring and be purchasing Canine Chow for poor dogs. Lenders look for suspicious activities, but benign they might be, and record them to FinCEN. Therefore, I’ve always assumed that anyone who has more than a checking account that reaches zero before payday is eligible for reporting.
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According to Data R’s source, in keeping with this, the lenders ‘ and FinCEN’s data-sharing model, which was “originally intended to track illicit financial activity, furthermore allows financial organizations to share exchange insights with one another under absolute legal immunity.”
Creepy? You betcha. However, Expand does have a chance to hoist the Deep State by its own presumptuousness.
Since the banks are already doing secret police job, they have” a complete, real-time view of world money movements”, Data R wrote. Although there are regulations to make sure that this information is only used for financial crime protection, it is very likely that the Treasury’s extensive database holds important information about NGO funding flows.
Oh my. Do you know where this is going then?
Another Fact: Another Source: Data R’s source also noted that there is” a growing problem that Treasury isn’t constantly monitoring this data—outsourcing the heavy lifting to financial institutions in place.” This leaves crucial economic crime data untouched at the federal level, whether due to supervision or intention. So whatever those privacy-busting requirements are up to, it might not be what they were going to do. Surprised?
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Data R’s cause concluded,” Maybe this is why everyone is so keen to keep Expand out of the Treasury techniques. It isn’t about Social Security checks, it is more about folks rooting through the FinCEN databases” and getting an unhindered, around look at where our money has gone.
” FinCEN’s data also deserves severe analysis”.
Oh, hell yes, it does.
Recommended:  , Apple’s Tim Cook Really Went Full Dr. Evil ( But in a Good Way )
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