Smugglers New Instrument


	Smugglers New Instrument

lakotahope

6-10-2009 1:41 PM

67 views

tags:

smugglers cash card, loophole

lakotahope says:

If the government passes new legislation that would enable any government border security person to see how much I am carrying on my "cash card" be it a debit or credit type acct., essentially, another basic right to privacy would be gone. Alot of laws are being passed in the name of national security from terrorism that are eroding our personal liberties. Kind of the BRAVE NEW WORLD coming at us....

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/9c7f8aea-a112-45b1-b423-1d0db159e47e/DBE0AEED-A9FA-4AB0-86BA-923185635A7A/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/" href="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/" style="font-size: 11px;">amfix.blogs.cnn.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/"><DIV class="cnnBlogContentTitle"><A title="Permanent Link: Official: Drug lords using ‘gift cards’ to smuggle money" rel="bookmark" href="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/" linkindex="50">Official: Drug lords using ‘gift cards’ to smuggle money</A></DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/"><P>Lawmakers say gift card technology is now making it easier for drug lords to move cash across the border undetected. These ’stored value instruments’ are often issued by offshore banks and allow large sums of money to be moved throughout the world. Arizona Attorney General Terry Goddard spoke to Kiran Chetry on CNN’s “American Morning” Wednesday. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/"><P><STRONG>Chetry:</STRONG> So you’re talking about gift cards, these blank cards that can be preloaded with large amounts of cash. How do they cash it in once they get across the border? </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/"> Under U.S. law, these cards, however much they may be worth are not considered financial instruments. T</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/">And they can’t read them, which is a big problem. Basically we need to have transparency so that if a law enforcement agency looks at one of these cards, he or she knows how much it is worth. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://amfix.blogs.cnn.com/2009/06/10/drug-lords-using-gift-cards-to-smuggle-money/">This isn’t your Starbucks or Best Buy gift cards. What we’re talking about here are stored value instruments, which have chips in them</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/DBE0AEED-A9FA-4AB0-86BA-923185635A7A/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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