Think your financial information is safe from predatory eyes? Think again. Reuters reports:
A new proposal from the Obama administration would allow U.S. intelligence agencies including the CIA to gain access to Americans’ financial data, according to a new report.
The plan is setting off criticism, with Texas Attorney General Greg Abbott, a Republican, calling it an ‘erosion of constitutional protections.’
Under the plan, U.S. intelligence agencies could tap into a massive database that contains financial information on U.S. citizens, with the goal of tracking down terrorist networks and crime syndicates, Reuters reports.
The database, called the Financial Crimes Enforcement Network (FinCEN), is already accessible to the FBI, although the CIA and the National Security Agency are required to make requests to view information on a case-by-case basis, according to the report.
While the plan is still in the early stages, the sharing of data is legal and was made permissible by a combination of the Bank Secrecy Act and the USA Patriot Act, which was signed into law by President George W. Bush more than a decade ago, Reuters notes.”
We probably can’t appreciate how many uses this information on us has for the Obama administration. In addition, they make it easier for someone to hack into it. Couldn’t happen you think? Just a few days ago Russian hackers successfully obtained credit information on CIA director John Brennan (!) plus Michelle Obama, Hillary Clinton, Al Gore, Joe Biden and Eric Holder.