PRIVACY
Here's another reason to love the IRS: a proposed Know Your Customer program that would require banks to closely monitor transactions and report "suspicious" behavior to the authorities. Under the plan, reports of questionable deposits or withdrawals will be sent to a unit of the US Treasury Department, where officials can funnel reports to any agency they deem appropriate, from the FBI to the IRS. The plan is part of a global effort to reduce drug-related money laundering, but critics charge it wipes out privacy instead.
The good news? The proposal isn't official yet, and you have until March 8 to voice your opinions about banking with Big Brother. Talk back to comments@fdic.gov.
MUST READ
Fight!
Quick, Hide Your Money
Confronting E-Grief
Jargon Watch
Here Comes the Slugger
Insta-Money Hits the Web
Hype List
Going, Going, Again
People
Home(page) Schooling
Tomorrow Today
McService Providers
What Stuff Is Made Of
The Taste of 2000
Cool Battles, Circa 300 BC
Tired/Wired
Very Local Loop
Raw Data
