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[FYI] (Fwd) FC: Banking with Big Brother
- To: debate@fitug.de
- Subject: [FYI] (Fwd) FC: Banking with Big Brother
- From: "Axel H. Horns" <axel.horns@fitug.de>
- Date: Thu, 10 Dec 1998 20:18:04 +0100
- Comment: This message comes from the debate mailing list.
- Organization: FITUG e.V.
- Priority: normal
- Reply-to: axel.horns@fitug.de
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------- Forwarded Message Follows -------
Date: Thu, 10 Dec 1998 13:21:54 -0500
To: politech@vorlon.mit.edu
From: Declan McCullagh <declan@well.com>
Subject: FC: Banking with Big Brother
Reply-to: declan@well.com
http://www.wired.com/news/news/politics/story/16749.html
Banking With Big Brother
by Declan McCullagh (declan@well.com)
9:25 a.m. 10.Dec.98.PST
US banks must monitor their customers
and alert federal officials to "suspicious"
behavior under a government plan that
has drawn fire as an Orwellian intrusion
into Americans' privacy.
A set of proposed regulations released
Monday requires banks to review every
customer's "normal and expected
transactions" and tip off the IRS and
federal law enforcement agencies if the
behavior is unusual.
"It turns us into surveillance agents for
the government," said John Ehrensperger,
compliance director for Atlanta-based
Sun Trust Bank. Ehrensperger stressed
that he was not speaking on behalf of his
employer.
[...]
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