Report Reveals Federal Government Engaged in Broad Surveillance of Americans’ Financial Data
A new report from the House Judiciary Committee and its Weaponization Subcommittee has uncovered evidence of broad and unjustified surveillance of Americans’ private financial data by the federal government. The report suggests that banks may have used information from anti-conservative organizations’ lists of hate symbols to determine potential persons of interest.
According to the report, the federal government conducted this surveillance without specific evidence of particularized criminal conduct, focusing on terms and specific transactions related to core political and religious expression protected by the Constitution.
The discussions between officials from the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and the FBI with financial institutions took place following the events of January 6, 2021. They requested that banks voluntarily share customer information with federal law enforcement outside of normal legal processes. The officials asked banks to search and filter customer transactions using terms such as “MAGA” and “Trump,” suggesting that purchases of religious texts could indicate extremism.
However, the report reveals that these transactions had no criminal nexus, yet FinCEN seemed to categorize these Americans as potential threat actors subject to surveillance. The federal government then used this information for investigations beyond January 6, without providing specific time frames or limitations for banks searching customer transactions with these terms.
FinCEN shared with financial institutions a hyperlink to key terms from the Anti-Defamation League website, which included symbols and images considered hate symbols in relation to racially and ethnically motivated violent extremism. This action has drawn criticism, as it resembles previous actions taken by federal agencies against certain groups based on ideology.
Furthermore, FinCEN circulated a hyperlink to a report authored by the ISD, a left-wing organization that monitors disinformation and promotes censorship of speech it deems false or extreme. The endorsement of this report by FinCEN has raised concerns due to its characterization of various conservative groups as hate groups.
The Treasury Department emphasized that FinCEN’s mission is to safeguard the financial system from illicit use, combat money laundering, and promote national security. They stated their commitment to fulfilling this mission in accordance with the law.
House Judiciary Committee Chairman Jim Jordan highlighted that the report demonstrates that the surveillance of Americans’ private financial data was broad, unjustified, and posed a threat to fundamental civil liberties. The committee’s investigation into this matter is ongoing.
As lawmakers and civil liberties advocates continue to scrutinize these findings, questions remain about the extent of the federal government’s surveillance and the potential infringement on Americans’ privacy rights.
Analyst comment
Negative news. As an analyst, this report reveals potential violations of Americans’ privacy rights and unjustified surveillance by the federal government. This could lead to increased scrutiny, calls for oversight, and potential legal action, impacting trust in government and the financial sector.
