More Bank Data May Not Aid Fight Against Terrorism
A plan to force banks into disclosing hundreds of millions of wire transfers to help fight terrorist financing would overwhelm bankers and regulators and add questionable value to the war on terrorism, experts and officials say. The proposal is being studied by the U.S. Treasury and would grant the government unprecedented access to banking records. Banks wire more than $6 trillion across the globe each day, the bulk of it in and out of the United States.Full Story