Patriot Act Authorizes Banks To Monitor Your Money For Suspicious Activity

Banking with a federally insured bank means you’re now being monitored under the Patriot Act.

…then risk assess all of our customers as to whether the likelihood that they could be involved in terrorist financing, money laundering…
…then we have to monitor everybody’s accounts to make sure that they stay within the bounds of what was determined should be their normal activity.
…any cash intensive business, restaurants, convenient stores, gas stations, doctors lawyers accountants… if they step out of the bounds of what was determined to be normal then we have to see if we can figure out why. If we can’t determine the reason for the stepping out of bounds then we’re required to file a suspicious activity report. The federal government looks at us to make sure that we are monitoring everybody’s activities…