Our bank complies with section 326 of the USA PATRIOT ACT.

I'm not totally sure, but I do know that under the patriot act, every transaction of money you make over $1,000 is reported to the government. It may be to make sure you're not trying to evade this.

It's on a credit card application.

I'm also not 100% certain about the specifics, however a lady I knew at a bank I do biz with told me one day that ANY and pretty much ALL foreign wires are closely monitored for what they consider suspicious activity...beyond that I have no idea


//land of the free, choke choke, cough gag, bullshit bullshit...





PS: found this on google, might have a tad more info...

http://www.ustreas.gov/press/releases/js335.htm

bank in panama

I guess it's just so you know that if you make a $1,000 purchase on your credit card, uncle sam gets a notice of what you bought.

A good chunk of my money is in panama, and it goes through malta and london before it gets back to me

it means since 9/11 the people were soo scared they gave the gov'ment toltal control....feels good don't it

of course


m00000000000000000

Im sure you are aware of this, but on this board you cant be sure......

This has been used in spam emails to collect account info from you

As I said Im sure this is not what u are talking about...... but just in case

Uncle Sam can lick my sack.

What it requires:
The rule requires that financial institutions develop a Customer Identification Program (CIP) that implements reasonable procedures to:
1) Collect identifying information about customers opening an account
2) Verify that the customers are who they say they are
3) Maintain records of the information used to verify their identity
4) Determine whether the customer appears on any list of suspected terrorists or terrorist organizations

Collecting information:
As part of a Customer Identification Program (CIP), financial institutions will be required to develop procedures to collect relevant identifying information including a customer?s name, address, date of birth, and a taxpayer identification number ? for individuals, this will likely be a Social Security number. Foreign nationals without a U.S. taxpayer identification number could provide a similar government-issued identification number, such as a passport number.

Verifying identity:
A CIP is also required to include procedures to verify the identity of customers opening accounts. Most financial institutions will use traditional documentation such as a driver?s license or passport. However, the final rule recognizes that in some instances institutions cannot readily verify identity through more traditional means, and allows them the flexibility to utilize alternate methods to effectively verify the identity of customers.


Maintaining records:
As part of a CIP, financial institutions must maintain records including customer information and methods taken to verify the customer?s identity.

Checking terrorist lists:
Institutions must also implement procedures to check customers against lists of suspected terrorists and terrorist organizations when such lists are identified by Treasury in consultation with the federal functional regulators.

Reliance on other financial institutions:
The final rule also contains a provision that permits a financial institution to rely on another regulated U.S. financial institution to perform any part of the financial institution?s CIP. For example, in the securities industry it is common to have an introducing broker ? who has opened an account for a customer ? conduct securities trades on behalf of the customer through a clearing broker. Under this regulation, the introducing broker is required to identify and verify the identity of their customers and the clearing broker can rely on that information without having to conduct a second redundant verification, provided certain criteria are met.

The following financial institutions are covered under the rule:
Ø Banks and trust companies
Ø Savings associations
Ø Credit unions
Ø Securities brokers and dealers
Ø Mutual funds
Ø Futures commission merchants and futures introducing brokers

The regulations were developed jointly by:
Ø The Department of the Treasury
Ø Treasury?s Financial Crimes Enforcement Network
Ø The Board of Governors of the Federal Reserve System
Ø The Commodity Futures Trading Commission
Ø The Federal Deposit Insurance Corporation
Ø The National Credit Union Administration
Ø The Office of the Comptroller of the Currency
Ø The Office of Thrift Supervision
Ø The Securities and Exchange Commission

Don't piss him off or he'll remind you of your $1k deposit to neteller and throw you in jail for illegal gambling

you dont think they know all your info already, unless you are only a cash and carry person. They know all about you lol

Osama Bin Laden 2,757

Civil Liberties 0

http://www.ustreas.gov/press/releases/js335.htm

I thought it was $10,000 ? I guess breaking up deposits into 9k increments wasnt doing anything for me after all...

I drove around in my car today and went to the bank, and it was great.

I don't think you want to brag about that, who knows if the IRS has agents reading GFY or not.

that's actually even more suspicious to your bank. i'll bet your bank has dozens of suspicious transactions reports filed against you.

if it makes you crazy americans feel any better, we have similar laws in canada. they're considered anti-money laundering laws. i had to do a big long boring course about this at work two weeks ago.

God damn they are pusing it ... Fuck the patriot act it's the most anti patriotic thing ever invented . It could be good used in drastical situations but right now 2000 ppl died 2 years ago and since that everybody is freaking out . Everyday more then 2000 ppl die because of the states exploitation of other country.

What we got that ????????? Isn't it for really huge ammounts of money only ?

Not since the patriot act. Anyway breaking it up into 9k increments is illegal.

So did I - it is great isn't it.

I love this Country.

cluck...can you get me on icq?
102973593

Transactions over $10K.

Aiight what I tought . It's all good :P

Is it also illegal to want 20 $ bills instead of 100 ? that don't make sence ...

If they bust any1 for that I'd laugh my ass off

Is America still the Land of the Free?

They want to make sure you're not a blood relative or distant cousin of Osama basically.

Homeland Security on your checking account.

It's not illegal, it's suspicious.

There are many legitimate reasons for wanting 5 $20 bills instead of 1 $100 bill. I can't think of one legitimate reason to make large deposits in incremental amounts.

Sounds like ajpii (if he's telling the truth) might not be reporting his income to the IRS and he's hoping incremental deposits will result in the bank not filing suspicious transaction reports. Problem is, his activity is all the more suspicious and the potential reasons behind his actions would encourage a bank to keep a closer eye on his account and maybe launch investigations.

More than anywhere else in the world.

We've lost some perceived freedoms for our greater defense, a balance there is to come. And we don't have a perfect system, but I think it's the best one going right now....

With that said -
Every "world power" nation has come and gone through the ages, nothing is forever.

Except Canada.

If you deposit 2k today (cash) 2k next week and so on, they have a right to ask you to sign a declaration of funds (not sure if that's what the form is called). Any bank manager (or teller who reports it to her manager) can ask you to sign the form. There is no maximum amount (although the benchmark is generally 10k) - if they feel it's suspicious (out of your normal banking) they can ask you to sign it. If they let you go cuz they know you and they get audited checked by the RCMP, they can be fined for not reporting 'unusual deposits'.

Certain businesses are 'permitted' to do these transactions - generally they are businesses that would have arrangements with cash clearing centers of the banks & have their deposits picked up by Brinks/Secur.

The 10k max limit is the cash/check value you are allowed to carry while travelling.

The lady knows her stuff.

The fines in question are VERY large. And they're coupled by serious jail time as well.

True - Canada enjoys many of the freedoms we have. I'm not for socialized medicine, but that's another argument.

why would you ever, ever give that information out

I'm not talking about suspicious . I'm talking about ILLEGAL like somebody said before

I live in canada and here we have the freedom to speak freely . The medias have too ...

In the states the free spech aera is over now . Medias are all owned by compagnies that got military contract = governement's speach .

It's really fucked up .

If Paul Martin would have done such ads (looking like news) he would have got bashed so fucking bad in the news and everywhere else . Yet it's nothing in the states ...

Hrmm as a webmaster you have no plan, no safety and you aren't for socialized medecine ? I beleive everybody should go to the hospital when he needs it, not when he haves the money too.

Cauz he aiin't doing it 4 real he's just bullshitting the board to look smart.

Check the first line of what you quoted.

It isn't illegal, it's suspicious.

I was correcting him

I assume you aren' talking about me personally - as you don't know if I have a plan or what coverage I have.

I also know if I didn't have insurance or money I can go to any Emergancy Room in the country and get better care than 90% of the rest of the world and I won't have to pay a dime.

It's no secret that people in Canada that have the money, don't use the free government hospitals. If you want quality, you pay for it. They pay for it there, many come to American hospitals.