Fergie's Tech Blog

U.S. Government Mining Banking Data in Anti-Terror Effort

Josh Meyer and Greg Miller write in The Los Angeles Times:

The U.S. government, without the knowledge of many banks and their customers, has engaged for years in a secret effort to track terrorist financing by reviewing confidential information on transfers of money between banks worldwide.

The program, run by the Treasury Department, is considered a potent weapon in the war on terrorism because of its ability to clandestinely monitor financial transactions and map terrorist webs.

Current and former officials at multiple U.S. agencies acknowledged the program's existence, but spoke on condition of anonymity, citing its sensitive nature. "We're very, very protective of it," said a senior U.S. official familiar with the program. "It is extremely valuable."

The program is part of an arsenal of aggressive measures the government has adopted since the Sept. 11 terrorist attacks that yield new intelligence, but also circumvent traditional safeguards against abuse and raise concerns about intrusions on privacy.

posted by Fergie @ 6/22/2006 06:29:00 PM