| Posted on Fri, May, 29th 2015 by THCFinder
What once was a practice used primarily by the United States government to crack down on international drug traffickers is now being used by local law enforcement agencies in hopes of seizing more money connected to black market drug trade.
A recent report from the Arizona Journal indicates that the Navajo County Sheriff’s Office has been approved to begin using ERAD-Prepaid debit card readers during traffic stops that result in the discovery of illegal drugs. The overall goal, according to Sheriff KC Clark, is to bust people running dope along Interstate 40, while allowing his department to become more profitable from these types of arrests.
While it can be difficult for cartel soldiers and mid-level domestic dope dealers to smuggle large amounts of cash undetected across America, many have caught on to the scheme of putting dirty money on pre-paid credit cards. This makes it easier for drug dealers to skate by the hounds of law enforcement, providing them with a financial invisibility cloak, of sorts, which has the potential to protect them from relinquishing substantial quantities of cash in the event of a roadside shakedown. It is also a lot less suspicious than carrying around stacks of paper currency.
Several years ago, however, a proposed amendment to the Bank Secrecy Act, Financial Crimes Enforcement Network (FinCen), sought to cripple this modern method of money laundering by suggesting that the Department of Homeland Security require travelers, specifically in the case of international passages, to declare the amounts on their prepaid credit cards. The supposed objectiveof this amendment was to create a modernized extension of policies pertaining to the declaration of checks, money orders, and travelers checks.