In 2006, it’ll be a whole lot harder to cheat on your taxes, even accidentally. In fact, you’ll also have to field calls from the government over odd deposits that you make, e.g. a deposit at an odd time of the month, or a cash deposit, or a deposit made from a foreign bank, etc. That’s because, thanks to the PATRIOT act, banks are spending billions on highly sophisticated, government-mandated anti-money laundering (AML) software that will track every last transaction of every last customer in order to build up individual customer profiles and look for “suspicious” activity. And when they find some suspicious activity, they’re going to want an explanation out of you, regardless of whether or not you fit any sort of terrorist profile.
Posted by David in General |
2 Responses to “Uncle Sam wants you… to explain this $50 cash deposit”
[...] o; Justice Bank Accounts No Longer Private From ars technica via David Veksler’s blog, apparently Uncle Sam w [...]
By d’Anconia Online » Blog Archive » Bank Accounts No Longer Private April 29th, 2005 at 7:38 pm
[...] raise what we call a red flag. He is suspect.” Hat Tip: D’Anconia Online and Truth Justice and the American Way
S [...]
By Reclaim Your Brain » You Think I’m Kidding: Think Dammit May 4th, 2005 at 12:58 pm