The Bank Secrecy Act is failing everyone. It’s time to rethink financial surveillance.
MIT Technology Review - AI
Jun 25, 2025 09:55
Katie Haun
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airesearchtechnology
Summary
The article highlights that as the US moves to regulate digital assets and modernize its financial system, there is insufficient attention to financial privacy concerns. It argues that current laws like the Bank Secrecy Act are outdated, and calls for a reevaluation of financial surveillance as new digital and AI-driven infrastructures are developed. This has significant implications for AI, as increased surveillance could impact data privacy, algorithmic transparency, and the ethical use of financial data.
The US is on the brink of enacting rules for digital assets, with growing bipartisan momentum to modernize our financial system. But amid all the talk about innovation and global competitiveness, one issue has been glaringly absent: financial privacy. As we build the digital infrastructure of the 21st century, we need to talk about not…