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Federal government now ruthlessly stealing thousands of dollars from small farmers’ bank accounts via ‘Bank Secrecy Act’

by Jonathan Benson, Natural News:

If you run a family farm or other small business in which you regularly make large cash deposits at the bank, you could be in violation of a little-known federal law called the Bank Secrecy Act. Making regular cash deposits of any amount, in fact, could land you in the crosshairs of government tyrants who, according to CBN News, have already seized tens of thousands of dollars from family farmers whose only “crime” was depositing their hard-earned cash in their bank accounts.

When it was first passed by the U.S. Congress back in 1970, the Bank Secrecy Act was intended to combat money laundering and other criminal activity by identifying so-called suspicious depositing activity. This law requires financial institutions to keep rigorous documentation of all individual cash deposits exceeding $10,000, which is considered to be suspicious, and submit this information to federal authorities. (http://www.fincen.gov/statutes_regs/bsa/)

Many criminals; however, allegedly began trying to evade this law by spreading out their individual cash deposits to numerous bank accounts in order to keep them below $10,000, which prompted the federal government to amend the law to prohibit individuals from so-called “structuring” their deposits. Anyone who deposits even moderately-sizable sums of cash, in other words, becomes a potential target under this unreasonably vague and all-inclusive law.

Read More @ NaturalNews.com

4 comments to Federal government now ruthlessly stealing thousands of dollars from small farmers’ bank accounts via ‘Bank Secrecy Act’

  • Frank Zak

    Yes, this is happenning in California to thousands
    of people. But, in CA cases, they stole everything
    from the safe deposit boxes for absolutely
    no reason.

  • bubba

    they stealing everything from anyone who is dumb enough to leave money in the bank or anywhere for that matter.

    i buy silver at least 2 days a week…I by additional food and ammo 2 days aweek i am working my ass off and turning fiat into anything that I can to benefit humanity.

    I will be on the other side…they won’t.

  • Choo Hader

    There is no limit to what Uncle Schlomo’s long arm will steal from you – your money, your liberty, your rights of inheritance, and your family and their lives, when they start their war.

    The USSA is just the host to the Zionists who pull all of Uncle Schlomo’s levers.

  • Stovebolts

    Since the Bank Secrecy Act forbids banks from informing depositors about this ;aw, I wonder if the banks had to pay a fine…not!

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