Date: November 08, 2012
Filed in: frontpage, news

News: DHS will scan payment cards at borders

The U.S. Department of Homeland Security (DHS) will scan payment cards at borders:

  • Travelers leaving or entering the U.S. have to declare aggregated cash and other monetary instruments exceeding $10,000.
  • Under a proposed amendment to the Bank Secrecy Act, FinCEN (Financial Crimes Enforcement Network) will also add the value of prepaid cards to this.
  • The DHS develops advanced handheld card readers to differentiate between a credit card, a debit card, and a prepaid card.
  • Credit cards and debit cards need not to be declared.
  • Intangible Bitcoin brain wallets remain safe.

Source: Forbes