The TRUTH about Bank Privacy

Financial privacy has practically vanished over the last 50 years. Most people are in denial about it, and still believe that their relationship with their bank or their credit union is confidential -- the reality couldn’t be further from that.

In this video we walk you through the history of how financial privacy slowly disappeared, and how we built a gargantuan financial surveillance system that no one really understands the extent of.

00:00 Financial Privacy is an Illusion
02:14 Pre-1970
03:23 Bank Secrecy Act
08:02 Annunzio-Wylie AML Act
10:38 Patriot Act
12:51 $600 Rule
16:17 The Future Ahead
18:24 Is This the World We Want?

We have slowly built a gargantuan system of unchecked financial surveillance, and it’s time to question whether this is the world we want to live in. The first step is just making people aware of how far financial surveillance norms have shifted in just a few decades.

Special Thanks to Nicholas Anthony of the Cato Institute for sharing his expertise with us!

Brought to you by NBTV team members: Lee Rennie, Cube Boy, Sam Ettaro, Will Sandoval and Naomi Brockwell

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#banking #privacy #kyc #surveillance #technology