(2010-09-27) Govt Seeking All Cross Border Money Transactions

The Barack Obama administration wants to require U.S. banks to report all electronic Money transfers into and out of the country, a dramatic expansion in efforts to counter terrorist financing and money laundering... Financial institutions are now required to report to the Treasury Department transactions in excess of $10,000 and others they deem suspicious. The new rule would require banks to disclose even the smallest transfers.