Run for your life: Banksters feel entitled to investigate you!

Banksters

Anyone still with CBA is a very slow learner.

But it appears to be all banks, government sanctioned.

But not to worry,  it’s all about catching “criminals’, right?

The Commonwealth Bank has threatened to cancel and close the accounts of a leading Australian businessman because he wouldn’t explain to them where his money came from and why he had sums of cash.

The CBA has sent the warning in writing to Louis Christopher, who runs leading investment research company SQM, ironically an organisation regularly quoted by the finance industry on trends in the real estate market.

Mr Christopher has described the bank’s extraordinary threat:

“Just out of the blue, the bank sent me the enclosed email and demanded to know:

1) How I have built up my wealth?

2) Why have I made cash withdrawals?

3) If I am holding cash at home, why?

4) Why did I make certain transactions to third parties.

“I called the bank and it was true. They were going to suspend all my accounts this week if I didn’t tell them the answers to the above questions. Said Austrac gave them the authority to do that.”

AUSTRAC is the government’s financial investigation and intelligence arm. He’s described the ordeal as extraordinary. “What I have just gone through this morning with CBA is disgusting. Absolute despicable, Orwellian stuff. Driven by Austrac”. The Federal government has empowered banks to start questioning customers on what they are doing with cash and where sums deposited come from. Mr Christopher said, “soon, you will be restricted on what you can and cannot spend. ‘That’s too much money being spent on your next holiday, sir’.”