more on Banks want to know why you want your money, "know their customer" all too well [priv]

[Dave Farber <dave () farber net>]

> X-Sieve: CMU Sieve 2.2
> Date: Tue, 18 Oct 2005 08:43:22 -0500
> From: Kenneth_Mayer () Dell com
> Subject: RE: [IP] more on Banks want to know why you want your money,
>  "know their customer" all too well [priv]
> To: dave () farber net
>
> Dave,
>
> I asked my father in law who runs a few credit unions and he says it is
> none of their business what you do with your money and said they would
> never ask.  I figured I would add my two cents.
>
>
> Ken Mayer Jr
> Advanced System Group
> Dell Server and Storage Department
> >Contact Info:
> >Phone: 800.901.3355 x 7958119
> >E-mail: kenneth_mayer () dell com
> >Fax: 800.607.9327 attn: Kenneth Mayer
> "How am I doing?"  Please contact my manager Sean at
> sean_shockey () dell com with any feedback!
>
> -----Original Message-----
> From: David Farber [mailto:dave () farber net]
> Sent: Tuesday, October 11, 2005 4:57 PM
> To: Ip Ip
> Subject: [IP] more on Banks want to know why you want your money, "know
> their customer" all too well [priv]
>
>
>
> Begin forwarded message:
>
> From: Declan McCullagh <declan () well com>
> Date: October 11, 2005 11:49:16 AM EDT
> To: politech () politechbot com
> Subject: [Politech] Banks want to know why you want your money, "know
> their customer" all too well [priv]
>
>
> Previous Politech message:
> http://www.politechbot.com/2005/10/06/banks-bigger-privacy/
>
> More on "Know Your Customer" rule:
> http://www.cato.org/testimony/ct-ss030499.html
>
>
> -------- Original Message --------
> Subject: Re: [Politech] Banks bigger privacy threat than Feds, CBS/ NYT
> poll finds [priv]
> Date: Thu, 6 Oct 2005 11:33:37 -0400
> From: Serge Egelman <egelman () cs cmu edu>
> To: Declan McCullagh <declan () well com>
> CC: dave () farber net, xsheng () andrew cmu edu
> References: <4344C35D.1080409 () well com>
>
>
> For what it's worth, I just had an interesting bank experience two
> weeks ago.  I was buying a motorcycle from a classified ad, and the
> guy wanted an $1800 cashier's check.  So I went to the bank, asked
> the teller for the check, and proceeded to wait there for five
> minutes while he stared at his terminal.  Finally I asked, "is
> everything okay?" "Oh it's just routine, I'm trying to figure out
> where you get your money."  I didn't really go any further, since I
> just assumed that this was because of the PATRIOT Act (though he
> never outright said that).
>
> Afterwards, he says everything looks okay, and now needs to know why
> I need the cashier's check (he said that for an amount this big, this
> is standard procedure).  I debated long and hard about putting up a
> fight on the grounds that this is my money, and I don't need to give
> them a reason to withdraw it.  At first I was thinking of just saying
> "drugs" to see what the reaction would be, and if they would actually
> prevent me from withdrawing my money because they don't approve of
> how I'm going to spend it.  But instead I told the truth.
>
> I later relayed this story to my adviser here at CMU (this happened
> at PNC).  She said I should have said something like "it's for my
> girlfriend to get an abortion."  While it would have been interesting
> to see the teller's response, this brings up a very serious point:
> bank tellers are now in the same position as pharmacists in that they
> can deny you service because of differing ideologies.  The difference
> though, is that the bank scenario is a lot more serious as they are
> sitting on your money (whereas in many cases you can go to a
> different pharmacy).
>
> serge
> _______________________________________________
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>
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