The New Role of Banks in Modern Society
Surveillance and Control
Keywords:Banks, Central Banks, Privacy
In the modern world banks are unique. Formally, they are commercial enterprises, but in fact they have a government role, controlling all of the financial activity of the population and organizations. This article examines the roles of banks in the surveillance and pressuring of people that are not usually publicized. There is no political subtext in this article, as the situation described is typical for all countries. The fact that the majority of the examples given are from Russia and the USA simply reflects the experience of the authors. The other important thing to note is that the article describes the ongoing war of “banks against the people,” and the cascade of events is accelerating with nearly every month. And the winner in these intermittent skirmishes is always the same.
Alton, G. (1986). Requiem for Regulation Q: What It Did and Why It Passed Away. Federal Reserve Bank of St. Louis Review, 22-37. https://doi.org/10.20955/r.68.22-37.zge
Cash Transaction Limits. (2017). Retrieved from: https://www.bragmybag.com/cash-transaction-limits/
Galanov, V. (2017), Banking, Moscow, Russia
Guex, S. (2000). The Origins of the Swiss Banking Secrecy Law and Its Repercussions for Swiss Federal Policy”. Business History Review, 74 (2): 237- 266. doi:10.2307/3116693. JSTOR 3116693
Harari, Y. (2015). Sapiens: a Brief History of Humankind. New York, Harper
Internal Revenue Service. (2019). Cash payment report helps government combat money laundering. Retrieved from: https://www.irs.gov/newsroom/cash-payment-report-helps-government-combat-money-laundering
Miller, T. (2014). Choosing to be Unbanked. Mercatus Center, George Mason University. Retrieved from: http://mercatus.org/expert_commentary/choosing-be-unbanked
Mishkin, F. (2011). Economics of Money, Banking and Financial Markets. Pearson Addison Wesley
Novaya Gazeta. (2020). Who wants seven years for bitcoin. #54, 27/04/2020. Retrieved from: https://novayagazeta.ru/articles/2020/05/24/85512-semerochku-za-bitok-ne-hotite?utm_source=fb&utm_medium=novaya&utm_campaign=esli-ranshe-my-znali--chto-bitkoiny--eto
Pellefigue, M. (2017). Contribuables, le fisc sait tout de vous, ou Presque. LeParticulier. Retrieved from: https://leparticulier.lefigaro.fr/jcms/p1_1604249/contribuables-le-fisc-sait-tout-de-vous-ou-presque
Rainer B. & Nicolas, C. & Benjamin E. &Tyler, M. (2015). "Bitcoin: Economics, Technology, and Governance". Journal of Economic Perspectives. 29 (2), 213–238. doi:10.1257/jep.29.2.213
Randow, J. &Takeo, Y. & Gordon, P. (2015). Negative Interest rates. Bloomberg. Retrieved from: https://www.bloomberg.com/quicktake/negative-interest-rates
Retrieved from: https://en.wikipedia.org/wiki/Great_Train_Robbery
Reuters. (2019). Trump blasts Bitcoin Facebook’s Libra demands they face banking regulations. Retrieved from: https://www.reuters.com/article/us-usa-trump-cryptocurrency/trump-blasts-bitcoin-facebooks-libra-demands-they-face-banking-regulations-idUSKCN1U701I
Song, J. (2015). The End of Secret Swiss Accounts?: The Impact of the U.S. Foreign Account Tax Compliance Act (FATCA) on Switzerland's Status as a Haven for Off Shore Accounts. 35 Nw. J. Int'l L. & Bus, 687 (2015). Retrieved from: http://scholarlycommons.law.northwestern.edu/njilb/vol35/iss3/4
US Customs and Border Protection. (2020). Money and other monetary protection. Retrieved from: https://www.cbp.gov/travel/international-visitors/kbyg/money.
How to Cite
Copyright (c) 2023 Alexey Brudno, Vladimir Arlazarov
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors contributing to IJFBS agree to publish their articles under the Creative Commons Attribution- 4.0 license, allowing third parties to share their work (copy, distribute, transmit) and to adapt it, under the condition that the authors are given credit, that the work is not used for commercial purposes, and that in the event of reuse or distribution, the terms of this license are made clear. Authors retain copyright of their work, with first publication rights granted to IJFBS. However, authors are required to transfer copyrights associated with commercial use to the Publisher. The authors agree to the terms of this Copyright Notice, which will apply to this submission if and when it is published by this journal
Submission of an article implies that the work described has not been published previously( except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, it will not be published elsewhere in the same form, in English or in any other languages, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.