Bank of America Accused of Conducting ‘Breathtaking’ Surveillance on Customers, Illegally Disclosing Confidential Financial Records and Personal Info – Crypto News – Crypto News
Connect with us
Bank of America Accused of Conducting ‘Breathtaking’ Surveillance on Customers, Illegally Disclosing Confidential Financial Records and Personal Info Bank of America Accused of Conducting ‘Breathtaking’ Surveillance on Customers, Illegally Disclosing Confidential Financial Records and Personal Info

others

Bank of America Accused of Conducting ‘Breathtaking’ Surveillance on Customers, Illegally Disclosing Confidential Financial Records and Personal Info – Crypto News

Published

3 weeks ago

on

A new lawsuit accuses Bank of America of mining data from its customers and unlawfully sharing the results with law enforcement agencies.

According to a lawsuit filed by Florida resident Neil Castellon, Bank of America runs one of the “most sophisticated data surveillance systems in the American financial sector and possesses technological capabilities that would be the envy of any 21st-century intelligence agency.”

[adinserter block=”1″]

The lawsuit alleges that between January 5th and January 7th of 2021, when a mob stormed the United States Capitol, Bank of America used its extensive library of data to identify those who were in Washington, D.C, at the time.

BofA then unlawfully shared the information with law enforcement agencies and personnel, the lawsuit says.

“…BoA’s disclosures extended far beyond any permissible reporting requirements and constituted unauthorized and unlawful dissemination of protected customer information to federal, state and local government law enforcement agencies.”

Castellon says Bank of America’s actions constituted a violation of the Right to Financial Privacy Act (RFPA), a law that protects customer records from unwarranted access by the federal government by requiring specific procedures to be followed before disclosures can be made.

“BoA engaged in voluntary data-mining beyond [suspicious activity report] SAR-triggering scenarios resulting in proactive, unreasonable searching and surveillance, rather than transaction-based anomaly detection.

In doing so, BoA violated the RFPA, unlawfully converted customer property and infringed on Plaintiff’s and the Class members’ constitutional rights.”

Bank of America denies the allegations and says it routinely follows regulatory requirements and requests from law enforcement.

The lawsuit, which was filed on January 5th, is seeking a trial by jury.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

[adinserter block=”1″]
[adinserter block=”5″]

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Related Topics:
Continue Reading

Trending