EXCLUSIVE - U.S. to let spy agencies scour Americans' finances

Wed, Mar 13 2013

By Emily Flitter and Stella Dawson and Mark Hosenball

NEW YORK/WASHINGTON (Reuters) - The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.

The proposed plan represents a major step by U.S. intelligence agencies to spot and track down terrorist networks and crime syndicates by bringing together financial databanks, criminal records and military intelligence. The plan, which legal experts say is permissible under U.S. law, is nonetheless likely to trigger intense criticism from privacy advocates.