Senate Republican demands answers from Treasury on push for banks to ‘surveil’ customer transactions in 2021

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EXCLUSIVE: The high Republican on the Senate Banking Committee is demanding answers from the Treasury Department and its monetary crimes enforcement division after revelations the companies urged non-public monetary establishments to “surveil” non-public transactions utilizing “politically charged search phrases” to flag customer profiles to federal legislation enforcement.

Sen. Tim Scott, R-S.C., penned a letter to Treasury Secretary Janet Yellen and FinCEN Director Andrea Gacki on Friday after Fox News Digital completely reported that the company advised in January 2021 that banks use particular search phrases to question transactions, together with “MAGA,” “Trump,” “Biden,” and extra, together with service provider codes from particular sporting items shops.

‘ALARMING’ SURVEILLANCE: FEDS ASKED BANKS TO SEARCH PRIVATE TRANSACTIONS FOR TERMS LIKE ‘MAGA,’ ‘TRUMP’

“I write regarding recent reporting that the U.S. Treasury Department (Treasury) through its Financial Crimes Enforcement Network (FinCEN) urged private financial institutions to surveil customers’ transaction-level data using politically charged search terms, in order to flag certain customer profiles on behalf of Federal law enforcement,” Scott wrote in the letter, obtained by Fox News Digital. “These allegations, if true, represent a flagrant violation of Americans’ privacy and the improper targeting of U.S. citizens for exercising their constitutional rights without due process.”

Sen. Tim Scott in a suit

 February 9 : Sen. Tim Scott, R-S.C., arrives for a closed assembly with lawmakers and intelligence advisers on the Chinese surveillance balloon, on Capitol Hill on Thursday, Feb. 09, 2023, in Washington DC.  (Jabin Botsford/The Washington Post through Getty Images)

Scott pointed to the Fox News Digital report, which revealed that FinCEN offered supplies to monetary establishments instructing them to search and filter Americans’ monetary information utilizing key phrases and search phrases, in addition to service provider class codes to assist legislation enforcement in figuring out individuals of curiosity forward of the January 20, 2021 inauguration — weeks after the Jan. 6, 2021 capitol riot.

The phrases and codes have been found as a part of a House Judiciary Committee and Subcommittee on Weaponization of the Federal Government investigation. The committees obtained paperwork indicating that MCC codes have been used to to question transactions like: “3484: Small Arms,” “5091: Sporting and Recreational Goods and Supplies,” and the key phrases “Cabela’s,” “Dick’s Sporting Goods” and “Bass Pro Shops,” amongst others.

The House Judiciary Committee additionally obtained paperwork revealing that FinCEN warned monetary establishments that an “extremism indicator” may very well be “the purchase of books (including religious texts),” just like the Bible, and subscriptions to sure media “containing extremist views.”

Protesters outside of the Capitol

Trump supporters occupy the West Front of the Capitol and the inauguration stands on Wednesday, Jan. 6, 2021.  (Bill Clark/CQ-Roll Call, Inc through Getty Images)

“These allegations are particularly concerning given past efforts to weaponize the financial system and payment activity against politically disfavored, lawful activity,” Scott wrote. “Under the Obama administration’s ‘Operation Choke Point’ initiative, the Department of Justice (DOJ) coordinated with federal financial regulators to intimidate financial institutions into denying services to legitimate businesses that the administration was ideologically opposed to, including gun retailers.”

Scott stated that “the weaponization and misuse of MCC codes is not a new issue either,” saying members of Congress have lately raised issues in regards to the potential to “surveil the free exercise of lawful activity using an MCC code—the same concern is at issue here.” 

“Federal government efforts to target individuals and entities based on their political views is a blatant and egregious violation of our Constitution,” Scott wrote. “Additionally, reported actions like these disrupt confidence in federal law enforcement and raise significant questions regarding the independence of federal financial regulators.”

Rep. Jim Jordan

Rep. Jim Jordan, R-Ohio, chairman of the House Judiciary Committee leaves the Republican caucus assembly on the Capitol in Washington, Thursday, Oct. 12, 2023. (AP Photo/Jose Luis Magana) (AP Photo/Jose Luis Magana)

Scott is demanding that the Treasury Department and FinCEN flip over data on the “role, if any,” FinCEN performed in “soliciting financial data from private companies” to assist legislation enforcement to determine targets after Jan. 6.

FEDS SUGGESTED BANKS SEARCH TRANSACTIONS FOR TERMS LIKE ‘BIDEN,’ ‘ANTIFA’ AND MORE AFTER JAN 6: SOURCES

Scott can also be asking if anybody from another govt department company — just like the Justice Department or FBI — ever directed, requested, or inspired FinCEN to interact in these alleged actions.

Scott is also asking for answers on what the premise was for FinCEN to conclude that the buying or possessing of non secular texts “may be indicative of extremism,” and who at FinCEN determined to warn banks of that chance.

Scott has additionally requested an inventory of the monetary establishments that FinCEN met with when suggesting the search of transactions of consumers who shopped at Bass Pro Shops, Dick’s Sporting Goods, and Cabela’s, and an inventory of all companies in the federal government concerned in the choice to search and filter these transactions.

Dick's storefront at Dulles Town Mall

This file picture exhibits the entrance of the Dick’s Sporting Goods retailer on the Dulles Town Mall in Sterling, Va.  (Google )

Scott has requested the Treasury Department to flip over that data by Feb 2.

Meanwhile, sources acquainted advised Fox News Digital on Thursday that the search phrases, like “MAGA” and “Trump,” have been generated by a financial institution and used to assist them determine suspicious transactions when reviewing customer transactional data. It is unclear which financial institution generated the search phrases. 

The sources stated FinCEN then shared these phrases with different banks to assist these monetary establishments to adjust to their very own suspicious exercise stories.

But past the phrases recognized by the House Judiciary Committee, the unnamed financial institution generated different phrases, which FinCEN shared with different banks, the sources advised Fox News Digital. 

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The supply stated the extra search phrases included: “White Power,” “Camp Auschwitz,” “Antifa,” “Proud B,” “Storm, the,” “Capitol,” “Groyper Army,” “Threepers,” “boogaloo,” “civil war,” “last sons,” “kill,” “shoot,” “gun,” “death,” “murder,” “Biden,” “Kamala,” “Pelosi,” “Schumer” and “Pence.”

The sources stated the distribution of the search phrases, together with “MAGA” and “Trump,” started in the ultimate weeks of the Trump administration after Jan. 6, 2021.

Meanwhile, House Judiciary Committee Chairman Jim Jordan, R-Ohio, who made the preliminary discovery, is requesting the previous FinCEN official and an FBI official seem earlier than his committee and the Weaponization Subcommittee for transcribed interviews to assist in the panels’ oversight investigation. 

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