Creating Wealth Real Estate Investing with Jason Hartman cover image

1779 FBF: Helen Davis Chaitman - Bernie Madoff, JP Morgan Chase, and Other Immoral Financial Institutions

Creating Wealth Real Estate Investing with Jason Hartman

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Bank Secrecy Act - Is the Bank Responsible for Doing All That Math on Someone's Account?

In 19 70, congress recognized that in order to ferret out financial frauds and protect the public, the government needed the co operation of financial institutions. The bank secrecy act requires banks to monitor their customers accounts. J p morgan chase saw billions of dollars coming into the account. It never saw one dollar spent to purchase ta security? Why? And in fact, i's theo that's pretty bad.

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