Truth to Power

Our money, their business?

Your Money Under More Scrutiny

By Manu Joseph

02:00 AM Apr. 26, 2005 PT

Pressured by anti-terror laws, banks will be spending billions of dollars over the next few years on software to counter money laundering. The software will automatically track suspicious financial transactions, but it will also monitor millions of innocuous ones, and may make it harder to cheat on your taxes.

I suppose “innocent till proven guilty” is somehow quaint these days. What an incredibly intrusive tool.


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