Friday, March 14, 2008

Your Financial Transactions Are Being Watched - No Kidding

You are not paranoid if they really are out to get you. That is the old joke, but looking at a report on ABC News today I think there is a lot of truth to it. The article details how banks and other institutions regularly monitor and send information to the Treasury Department on any financial activity they consider “suspicious”. This means any time you swipe your credit card or bank card the financial institutions are watching that and sending info to the government.

And it’s not just banks, casinos and any other institution that handles cash transactions can do the same. Privacy advocates are in an uproar and rightly so, but right now it’s all legal with the way the privacy laws have been gutted.

Why is this an issue now? Well, it is essentially the way Eliot Spitzer, Governor of New York, was caught in the prostitution ring. He was making wire transfers to a phony company that was a front for the call-girl ring. The FBI tracked him from there.

So next time you decide to go out for a big dinner or maybe visit a questionable establishment, be secure in knowing that BIG BROTHER really is watching every move you make. Seems like 1984 came a few decades late!

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