Accessibility links

Breaking News

Report: U.S. Seeks Wider Access to Bank Records

A report in The New York Times Sunday says the United States is working on a plan that expands government access to international banking records in an effort to deter terrorist transactions.

The newspaper reports a U.S. Treasury Department working group is examining ways the government can gain access to logs of international wire transfers into and out of U.S. banks.

The Times quotes unnamed government officials who say they are mindful of concerns about privacy and potential misuse of the system. It says the plan is still in its preliminary stages.

A recent U.S. law authorizes the Treasury Department to develop regulations requiring U.S. banks to turn over suspected "cross-border" electronic transactions.