Every bank teller is now a government informer and everyone with a bank account is a criminal suspect.
The Federal Deposit Insurance Corporation (FDIC), Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, and Office of Thrift Supervision proposed a change to banking regulations in 1998 that would ensure banks and savings institutions have policies and procedures in place for screening transactions. Known as “Know Your Customer” programs, the federal regulatory agencies claimed they were trying to thwart money launderers and drug dealers.
Students of Bible prophecy recognize this as another incremental step toward the fulfillment of the prophecy found in the book of Revelation which reveals that the antichrist will be able to track and control all financial transactions.
He also forced everyone, small and great, rich and poor, free and slave, to receive a mark of his right hand or on his forehead, so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name. [Revelation 13:16-17]
According to the 1998 proposed regulation (12 CFR 326), “the regulation would require each nonmember bank to develop a program designed to determine the identity of its customers; determine its customers’ sources of funds; determine the normal and expected transactions of its customers; monitor account activity for transactions that are inconsistent with those normal and expected transactions; and report any transactions of its customers that are determined to be suspicious, in accordance with the FDIC’s existing suspicious activity reporting regulation.”
Following a huge outpouring of negative public opinion by way of over 250,000 letters, e-mail messages, and faxes the FDIC received concerning “Know Your Customer,” the head of the FDIC later announced that “the public has spoken very loudly and clearly.” Chairwoman Donna Tanoue said that she will urge the FDIC’s board to drop the controversial rule at their next meeting.
Indeed, at that meeting, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency, Office of Thrift Supervision, and the Board of Governors of the Federal Reserve (the “Agencies”) officially voted to withdraw their proposed Know Your Customer rule.
Even with the withdrawal of the FDIC regulation, it turns out the Bank Secrecy Act compliance manual of the Federal Reserve mandates banks to implement a Know Your Customer program.
“While the unanimous vote by the Senate and the likely withdrawal of the “Know Your Customer” proposal at the FDIC are developments worth cheering about, they will represent nothing more than temporary victories for freedom and constitutional rights. The government will be back. There will be new attempts to find out how you are spending the small amount of money your “public servants” permit you to keep. When you least expect it, they will be back in your pocket and snooping in your private affairs once again.” – Joseph Farah, World Net Daily
Indeed… they did come back with renewed fervor in 2001 thanks to the 9/11 false flag attack.
And, they came back with an expanded list of targets…
it wasn’t only money launderers and drug dealers, but now was to prevent identity theft and terrorist financing.
The USA PATRIOT Act of 2001 requires financial institutions to implement a customer identification program to verify the identities of customers and verifying that the customer is not on any list of known fraudsters, terrorists or money launderers.
You might say that because you’re not a criminal or a terrorist or any of those things these laws are purported to prevent and you have nothing to hide, then why should you care. Well, I’m telling you right now… you should care because the day is coming these laws will be used AGAINST YOU. Perhaps you’ve already experienced some of the injustice as I have. (Please share your accounts in the comments below.)
I have personally been denied services from banks because of my non-compliance with the banks implementation of Know Your Customer regulations or because of privacy laws. I’m not a criminal, not a terrorist, and not a fraudster. What I am is a law abiding American citizen simply trying to live my life with minimal complications and intrusions by the government or corporations.
- I was notified by my bank, Commerce Bank in Wichita, that they were terminating my safe deposit box lease because I did not have a full banking relationship with them. Upon further queries I learned the real reason was because I had not fulfilled the Know Your Customer regulations in force when people now open a new account with the bank. Never mind I’ve been a customer of theirs since the 1980’s… I was no longer welcome there as a customer.
- When my prepaid Payoneer MasterCard issued by Choice Bank Limited expired, I was told by Payoneer they would not issue me a new card until I complied with their Know Your Customer implementation by providing them with proof of my identity – a government issued ID card AND a copy of my social security card. Never mind they’ve previously reissued my card twice before as I’ve been their customer for over 10 years. Besides that, their demand for my social security card surprised me as it states on the front of the card, “NOT FOR IDENTIFICATION”.
- In a somewhat related incident several years ago, my bank account at Intrust Bank in Wichita was compromised when somebody made a fraudulent ACH withdrawal from my account – depleting it’s funds causing other bank drafts to bounce. The bank refused to restore the stolen funds because… get this… they could not prove I didn’t initiate the fraudulent transaction. After a bit of investigation myself, I uncovered the person that had made the fraudulent ACH withdrawal and provided that name and account number to Intrust Bank. They informed me they were unable to pursue that criminal because they were protected by privacy laws – case closed.
Beyond name matching, banks are now also using specialized transaction monitoring software to compare transactions of a customer against their recorded profile, history on the customers account(s) and with peers.
You should beware of any financial transaction you do — especially depositing money in your bank or withdrawing money from your bank. With your bank reporting your financial transactions to federal enforcement agencies, will you be prepared to explain to federal agents why you conducted that particular financial transaction?
In a free society, the government has no business asking where you get your money or how you spend it — and politicians have no right to force your bank to monitor your account.
It seems to me, these Know Your Customer regulations along with much other from the government and multi-national corporations really have very little to do with privacy, fraud, money laundering, terrorism, crime, or what have you… it has more to do with their veracious desire to control and dominate us. It is an precursor of the antichrist’s mark of the beast.