A federal jury in California has ordered credit reporting agency TransUnion to pay $60 million to individuals it wrongly tagged as terrorists or drug traffickers. [More]
ofac
Who Is Responsible When Your Credit Report Flags You As A Possible Terrorist?
By 12.19.12
We’ve told you before about consumers who ended up being denied for loans and facing public embarrassment because their credit report included a note that the person might be a terrorist or an international drug trafficker. But no one seems to want to take the blame for when this kind of mistake happens. [More]
The Software Banks Use To Flag Ordinary Customers As Terrorists
By 4.24.07
The Electronic Payments Network, a private-sector automated clearing house, has an online demo showing how an institution can scan transactions for possible terrorists based on those free, public, and error-ridden text files.
How Banks Flag Ordinary Customers As Terrorists
By 4.10.07
The Washington Post has an article, “Ordinary Customers Flagged as Terrorists,” describing how the Office of Foreign Asset Control maintains a list of potential terrorist suspects, and how everyday citizens can wind up on it.
How Banks Freeze Terrorist Founds With A Free, Public, .TXT
By 1.13.07
A text file. That’s what banks use to freeze the assets of terrorists, drug traffickers, and nuclear weapons dealers. A dot txt downloadable from the U.S. Treasury website.
