Isn't this just a super way for the government to keep track of exactly what we're buying, where we're buying it and how much of it we're storing? We can write the FDIC and our representatives but will it matter? It's enough to make one paranoid.
Offered by Martha.
This may be aimed at tracking and stopping money laundering, but it affects the average citizen too. Just a reminder, folks, to think about the trail and profile you present. Don't give your survival site address out to anyone. Use bait and switch, such that supplies are sent to one address and then picked up and taken to another. Don't order everything to one address. Order the camping supplies to one, the 5 years of vitamins to another, and the gardening equipment to yet another. Don't present a profile that will pop up as unusual on a scan. You're a camper. Or you're a gardener. Or your a health nut whose found a bargain. But not all three at once!
Offered by Nancy.
The following is a direct quote from the first page of FDIC document (6174-01) (12 CFR Part 326) Notice of proposed rulemaking
The FDIC is proposing to issue a regulation requiring insured nonmember banks to adopt and maintain "Know Your Customer" programs. As proposed, the regulation would require each nonmember bank to develop a program designed to determine the identity of its customers; determine its customers' sources of funds; determine the normal and expected transactions of its customers; monitor account activity for transactions that are inconsistent with those normal and expected transactions; and report any transactions of its customers that are determined to be suspicious, in accordance with the FDIC's existing suspicious activity reporting regulation. ...