How Government Makes Your Bank Spy on You

How Government Makes Your Bank Spy on You
The logo of Chase Bank is seen in a branch near Times Square in New York on June 30, 2020. Johannes Eisele/AFP via Getty Images
Kevin Stocklin
Updated:
0:00

When you open a bank account, do you surrender all rights to your privacy and personal data?

Today, the answer is yes. The Bank Secrecy Act of 1970 (BSA) and subsequent amendments mandated that your bank must inform the federal government about any customer’s transactions that they consider suspicious—however broadly defined that may be—in the form of Suspicious Activity Reports.

Kevin Stocklin
Kevin Stocklin
Reporter
Kevin Stocklin is a contributor to The Epoch Times who covers the ESG industry, global governance, and the intersection of politics and business.
Related Topics