IP: Re: tracking smart cash

[Dave Farber <farber () cis upenn edu>]

Posted-Date: Mon, 4 Nov 1996 14:27:18 -0500
To: Dave Farber <farber () central cis upenn edu>



--
Dave:


This amounts to implementing the requirements of the Bank Secrecy Act in
smart cards but with (I assume) automated reporting.  Hence, not only will
transactions over some threshold ($10K at the moment as required by the
Bank Secrecy Act) be reported, but they will be reported in real time.


Combined with the lack of privacy considerations in the smart-highway
programs, there would be a much bigger step toward a "surveillance
society."


                                      ww