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Department Of Homeland Security To Scan Payment Cards At Borders And Airports
Posted By yihan On November 7, 2012 @ 11:46 am In Prison Planet,Tile | Comments Disabled
November 7, 2012
Travelers leaving or entering the United States have long had to declare aggregated cash and other monetary instruments exceeding $10,000. Now, under a proposed amendment to the Bank Secrecy Act, FinCEN (Financial Crimes Enforcement Network) will also require travelers to declare the value of prepaid cards that they are carrying, known now as “tangible prepaid access devices.”
Expected to be finalized by the end of this year, the cross-border reporting modifications stem from a broader October 2011 definition of payment methods and form factors that replaced the term “stored value” with the term “prepaid access” in an effort to more accurately describe the process of accessing funds held by a payment provider.
Enforceability falls to U.S. Immigration and Customs Enforcement and U.S. Customs and Border Protection both within the Department of Homeland Security, which is already developing advanced handheld card readers that can ascertain whether a traveler is carrying a credit card, debit card, or prepaid card.
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URLs in this post:
 Forbes.com: http://www.forbes.com/sites/jonmatonis/2012/11/07/department-of-homeland-security-to-scan-payment-cards-at-borders-and-airports/
 Homeland Security to scan fingerprints of travellers exiting the US: http://www.prisonplanet.com/homeland-security-to-scan-fingerprints-of-travellers-exiting-the-us.html
 Why Does The Department Of Homeland Security Need 450 MILLION Hollow Point Bullets?: http://www.prisonplanet.com/why-does-the-department-of-homeland-security-need-450-million-hollow-point-bullets.html
 Big Sis to Resign from Department of Homeland Security: http://www.prisonplanet.com/big-sis-to-resign-from-department-of-homeland-security.html
 Department of Homeland Security Targets Gun Collector: http://www.prisonplanet.com/department-of-homeland-security-targets-gun-collector.html
 Homeland Security To Scan DNA: http://www.prisonplanet.com/homeland-security-to-scan-dna.html
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