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If you, like me, were wondering what the Secret Service (widely recognized for their duties as presidential bodyguards) has to do with ATM fraud, there's a comm
by ojosilva 9y ago
If you, like me, were wondering what the Secret Service (widely recognized for their duties as presidential bodyguards) has to do with ATM fraud, there's a comment below the article from the author:
> I didn’t mention it in the story, but perhaps I should have: The original mission of the Secret Service when it was created in the 1800s was to safeguard the U.S. currency from counterfeiters. Only after a few presidents were assassinated did their mission grow to include protection of the president and other dignitaries. Both are their dual roles today.
https://www.secretservice.gov/about/history/events/ https://www.secretservice.gov/about/history/events/
- thaumasiotes 9y agoHow does that relate to ATM fraud? The ATMs are, presumably, issuing legitimate currency?
- JumpCrisscross 9y ago> How does that relate to ATM fraud? “In 1984, the US Congress passed the Comprehensive Crime Control Act, which extended the Secret Service's jurisdiction over credit card fraud and computer fraud.” https://en.m.wikipedia.org/wiki/United_States_Secret_Service#History https://en.m.wikipedia.org/wiki/United_States_Secret_Service...
- bgribble 9y agoThe Secret Service is the law enforcement branch of the Treasury Department, like the FBI is the law enforcement branch of the Justice Department and ICE is of the Dept of Homeland Security. The President-protecting stuff is the weird part of their duties, not the other way around :)
- ad_hominem 9y agoThe Secret Service was moved to Homeland Security in 2003.
- _asummers 9y agoIf you deposit more than 10k in cash, a bank is obligated to inform the Secret Service's money laundering division per the PATRIOT Act. Secret Service has jurisdiction in a few places you wouldn't expect.
- DrJokepu 9y agoFinCEN is part of the Department of the Treasury, not the Secret Service (which has been a part of the Department of Homeland Security since 2003).
- DINKDINK 9y ago>per the PATRIOT Act You're mistaken. That's the "Bank Secrecy Act" https://en.wikipedia.org/wiki/Bank_Secrecy_Act https://en.wikipedia.org/wiki/Bank_Secrecy_Act FTL: "Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, and file reports of cash purchases of these negotiable instruments of more than $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities."
- coding123 9y agoI totally hope this plot line is going in the next "Has Fallen" movie....
- celticninja 9y agoI found it interesting that this was not widely known. I am from the UK and was fully aware that this was their other role but it seems many in the US are unfamiliar with this information. I am pretty sure that I have just picked up that information from US film/TV which is why it is surprising to me.
- the_watcher 9y agoReally? When reminded, I know that I learned this at some point, but US film/TV is definitely responsible for the perception that the Secret Service is entirely around to protect the President.
- mrguyorama 9y agoI knew that they existed at least partially to protect the currency, but I had thought their mission had expanded the other way. I thought their original goal was VIP protection and they somehow got roped into currency protection