Legal Corner

Scary technology
robsul2004 124 Reviews 8762 reads
posted

Well I learned today that even cash is not as anonymous as I (and I presume most of us) thought it was.  Apparently the latest "anti-terrorism" intrusion is that the serial numbers on currency are being tracked - not 100%, but if you receive or deposit cash in an ATM - the serial numbers are scanned/recorded and can be traced and tied to your specific transaction.  Likewise, Most banks now track and record the serial numbers for currency they receive and return each day, so even if you do transactions in person, while the specific serial numbers may not be directly tied to you, authorities can review the video and other records that most all banks now keep and determine who made deposits/withdrawals that day.  They track cash down to the specific teller who receives/disburses it, so you can be narrowed down to one of a few people very easily.  Looks like the ultra safe course of action is to use currency you receive as change in a cash purchase transaction. Of course this is aimed at tracking terrorist (at least for now).

shudaknownbetter7810 reads

On first glance, this is scary...  but unless one is passing counterfit bills...  the sheer volume of data is overwhelming.  They are not going to be reviewing video footage & account transaction time stamps unless you have given some Federal Agency a real good reason to investigate...  and if you have, your *ss is gr*ss without tracking your play money.  

My program is to accumulate a bit of cash each week from excess pocket money, which I hold asside until there's some need to spend it on...  

Withdrawing cash from an ATM on the way to a date is not discrete...  
skb


-- Modified on 10/2/2008 3:17:51 PM

So they can tell that I withdrew money from an ATM. Millions of people do this every day. So, a few days or weeks later (or maybe never) an escort that I hired deposits some of that money in a bank. Again, people deposit money every day. Sorry but I'm not understanding what I have to be concerned about here.

I think this technology is to track stolen money.

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