Obama Executive Order | Spy Agencies over Citizen Bank Accounts

CIA, NSA, FBI, British Spys, Israel and More can access your bank account?

In an attempt to pursue terrorists across the globe, the Obama administration has proposed legislation that will give spy agencies access to citizens’ finances. Currently, the FBI is the only agency that has access to these databases, but the plan will give the CIA and NSA the same access. So does this proposition take the war on terror too far? Private investigator Kenneth Cummins explains the legality of the legislation.

Reuters notes:

U.S. to let spy agencies scour Americans’ finances

The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizensand others who bank in the country, according to a Treasury Department document seen by Reuters.

Financial institutions that operate in the United States are required by law to file reports of “suspicious customer activity,” such as large money transfers or unusually structured bank accounts, to Treasury’s Financial Crimes Enforcement Network (FinCEN).

The Federal Bureau of Investigation already has full access to the database. However, intelligence agencies, such as the Central Intelligence Agency and the National Security Agency, currently have to make case-by-case requests for information to FinCEN.

The Treasury plan would give spy agencies the ability to analyze more raw financial data than they have ever had before ….

The planning document, dated March 4, shows that the proposal is still in its early stages of development, and it is not known when implementation might begin.

The plan calls for the Office of the Director of National Intelligence – set up after 9/11 to foster greater collaboration among intelligence agencies – to work with Treasury. The Director of National Intelligence declined to comment.

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