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Video: Know Your Customer = Big Brother?

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Posted on February 22 2010 12:30 pm
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by Ed Morrissey

Banking laws require financial institutions to report certain transactions by their customers to the federal government in order to stop money laundering and to uncover the conspiracies funded by them — drug rings, terrorists, fraudsters, and more. Most people think that the thresholds for reporting are sufficiently tight to keep the government out of their business. However, financial institutions had to report more than 18 million transactions last year. Did that stop crime? Not exactly:

Read more and watch the video at Hot Air.

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