The Senate plans to pass another freedom-robbing bill in the name of combating money laundering. Senate Bill 1241, “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,” requires travelers with $10,000 or more in cash or assets to register. If you fail to obey, you forfeit all your assets and face ten years in jail.
The bill will track money and assets ad infinitum as well as any business with government ties. It will act in lieu of the DHS to steal all your assets, even Bitcoin and other such currencies, if you don’t report funds while traveling with more than $10,000.
We will undoubtedly need a new department and lots of new government workers to handle all this spying on travelers. The end result will be the unconstitutional civil asset forfeiture.
Civil asset forfeiture gives the government the right to steal.
This bill falls under the absurd umbrella of fighting terrorism and transnational crime.
Under civil forfeiture, the government can rob you of all your your cash and assets without due process. You can fight them after fact if you have the money for the legal expenses. The government of course has unlimited taxpayer funds.
It was originally used in drug deals but it’s gone far beyond that. It has created a financially lucrative relationship between the feds and local governments. An AEI report shows that the federal government seizes more from the people than burglars do thanks to civil forfeiture laws. It’s abuse and what we would expect from totalitarian regimes.
People are spending thousands, sometimes hundreds of thousands to get their property back when they did nothing wrong. They were deprived of due process until after the assets were stolen.
It’s basically being extended to travelers.