Cato Daily Podcast Trump-Era Financial Surveillance Aims to Track Small Transactions
Mar 25, 2025
Nick Anthony, a policy analyst at the Cato Institute and expert in financial surveillance, discusses how the Trump administration's policies compromise Americans' financial privacy under the pretext of combating illegal immigration. He highlights the troubling trend of increased monitoring of small transactions and critiques the efficacy of these measures in curtailing crime. Anthony advocates for stronger protections of financial privacy, warning of the unintended consequences these surveillance policies may have on everyday Americans and their banking activities.
AI Snips
Chapters
Books
Transcript
Episode notes
Financial Surveillance as an Attack on Privacy
- The Trump administration's increased financial surveillance, especially targeting small transactions, undermines Americans' financial privacy.
- This is done under the guise of cracking down on illegal immigration.
Lowered Threshold for Reporting
- The Treasury lowered the reporting threshold for money service businesses at the border to $200.
- Exchanging over $200 in currency or sending remittances now places individuals on a government watchlist.
Ineffectiveness of Financial Surveillance
- The ineffectiveness of financial surveillance in stopping criminals is highlighted.
- The vast majority of those surveilled are everyday people.