U.S. Attorney General Eric Holder has crafted a new policy that would allow government officials to seize bank accounts involved in financial structuring schemes prior to filing criminal charges against the individuals who own those accounts.
The new policy stems from the Justice Department’s ongoing review of its asset forfeiture program. The policy is aimed at preventing criminals from making a series of currency transactions under a certain monetary threshold in order to evade reporting the transaction to the authorities, according to a department statement.
Those types of transactions typically lead to “the most serious illegal banking transactions” and occur “in connection with other criminal activity,” the statement read.
The policy enables prosecutors to issue warrants for bank accounts that are potentially involved in a structuring scheme once the likelihood of federal criminal activity is shown. Upon a supervisor’s approval, the prosecutor must then file a criminal indictment or civil complaint against the owner of the seized funds within 150 days or return those funds.
“With this new policy, the Department of Justice is taking action to ensure that we are allocating our resources to address the most serious offenses,” Mr. Holder said. “Appropriate use of asset forfeiture law allows the Justice Department to safeguard the integrity, security and stability of our nation’s financial system while protecting the civil liberties of all Americans.”
Here’s the key phrase – “..transactions under a certain monetary threshold in order to evade reporting..”. It doesn’t say what the threshold was prior to the change, but let’s just say it was $10,000. Now they can look at transactions of lesser amounts and still be within the law – the law they just changed with the stroke of a pen. Naturally, they say it’s aimed at criminals who make smaller transactions, but it can be used to look into anyone’s account if they so choose, and Eric Adolf Holder will use it as he sees fit. This is in conjunction with his Operation Chokepoint to kill small businesses that they don’t like and to stifle anyone not in agreement with their agenda.
By simply changing the regulations, Holder can now seize your money for the flimsiest of reasons and without proof that you’re guilty of breaking any laws. All the DOJ needs now is a suspicion. Nazi Germany, much?