Secrecy Prevents Identity Theft and Seizures
why Americans give up their financial privacy so easily? Slowly
condition a population over a generation or two to believe it's
normal to let government, quasi-government agencies, and private
investigator–types have access to citizens' money and banking information
— and privacy becomes obsolete.
Throw in a
numerical identifier that nearly everyone has — the good old Social
Security Number — and a national money-tracking system is created.
And the most sophisticated and otherwise security-conscious individuals
roll over and accept it like timid little puppy dogs.
they lack the information, assertiveness, and persistence necessary
to create a banking and asset privacy plan. This article is about
doing just that — establishing a financial privacy plan for your
money and other liquid assets. Once you have a banking privacy plan
in place, you'll be able to effectively eliminate the threat of
theft of your money by identity thieves and others who may be attempting
to find your cash.
you be so concerned about your financial privacy? Since identity
theft is the fastest-growing fraud crime of the century, preparation
to conceal business and personal money is a prudent move. In the
event you or your business become the successful target of an identity
thief, you can expect an average personal loss of $2,400 and an
average business cost of over $10,000 in out-of-pocket expenses
to clean up the mess (Hall, 2006).
intrusions from your own government? Violation of financial privacy
is a necessary first step to gaining control over every business
and individual (Hill, 1998). Would it not be best to have assets
and money hidden and out of reach from everyone — government included
— in order to avoid unlawful theft or seizures?
notable property seizure occurred, as FBI agents raided offices
and seized property, equipment, and cash of Liberty Dollar maker,
NORFED corporation. The seizure warrant — case 1:07-mj-100119-DLH
— was issued and signed by U.S. Magistrate Judge Dennis L. Howell
in Asheville, North Carolina, on November 9, 2007.
and author W. G. Hill warned us of the current trend and wrote:
"In so-called western democracies, the state has increasingly
granted itself the power to simply take from you whatever it desires"
(Hill, 1998, Banking
in Silence, p. 43). While Hill advocated banking secrecy
through the use of offshore accounts and jurisdictions primarily,
he acknowledged the increasing difficulty of financial privacy worldwide
in his book on the subject, Banking in Silence.
Privacy in the U.S.A.
be surprised to learn that banking privacy can be accomplished in
the U.S.A. In fact, if you reside in the states, you'll be best
served in most cases by keeping your funds in the country. The exceptions
are high-net-worth individuals and those who spend substantial time
out of the U.S.A.
accounts and assets may be vulnerable to discovery and seizure,
and few jurisdictions offer complete banking secrecy. Mutual Legal
Assistance Treaties (MLAT) between the U.S.A. and forty-eight countries
enable the exchange of financial information without "probable
cause" and with only "reasonable suspicion" (Barber,
As you work,
live, purchase goods and services, and make investments in the U.S.,
you need immediate access to your funds and timely clearance of
negotiable instruments. Otherwise, you face lengthy hold times on
deposits — sometimes in excess of thirty days for offshore banks,
not to mention the withdrawal restrictions on many foreign accounts.
the most private bank account known to privacy seekers was the Austrian
Sparbuch account — an anonymous passbook type of account
with only an associated password as an identifier. This bearer account
belonged to whoever held it and could recite the password to the
banking official. This account is no longer available through Austrian
banks. Numbered accounts previously offered by the Swiss banks are
also no longer offered. These two stalwarts of banking secrecy have
gone by the wayside following pressure from outside forces — mainly
the U.S. government.
Today in the
U.S.A., you, as a believer in freedom and privacy, can have your
personal and business financial privacy once you gain the information
and know what resources to use for privacy. Stop listening to the
"talking heads" who tell you that your privacy has been
taken from you or that you have to give it up in the name of national
traditionally been a land of free people who have been entrepreneurs
and innovators. Business men and women risk time and capital to
produce products and services to supply the demands of the marketplace.
Take advantage of what is available to you for your privacy needs
and learn how to best utilize these resources to create a bulletproof
"banking" privacy plan.
The most secure
way to "bank" anonymously is through the conversion of
checks into cash within a system where funds are accessible and
your personal and business information and location is known to
as few people as possible. Check-cashing stores have become a growth
industry within the United States of America, as demand soars for
the clearance of checks by those illegally working in the country,
banned bank customers, and others who choose these pseudo-banking
operations as a means of turning checks into greenbacks.
For the privacy
seeker, check-cashing stores offer a way of cashing checks without
the risk of storing money in a deposit account. Bank accounts and
the associated taxpayer identification numbers and names have been
stolen by identity thieves, liened by government agencies, and confiscated
by investigators without proof that the account holder is liable
for a debt. You won't run this risk as you cash your checks and
carry your cash away from a check-cashing store.
cashing stores will cash checks payable to a Trust, Limited Partnership,
or Limited Liability Company. An individual manager or trustee will
necessarily have to prove that he or she is authorized to receive
money on behalf of the company or trust. Portions of the trust,
partnership agreement, and articles of organization may have to
be shown to the manager of the check-cashing store.
the individual who is the trustee or manager of one of these entities
will provide verification of his or her identity, a mailing address,
and a telephone number. Social Security Numbers and Employer Identification
Numbers are not necessary for "accounts" with certain
stores, and these should not be given in order to preserve your
Once you have
opened an "account" with a check-cashing store, the most
difficult part of your future business will be awaiting their verification
of funds by telephone for those new checks you present for clearance.
You must understand that privacy living is always more inconvenient
and more expensive than the way the masses choose to live. So you
will have to expend some extra time in order to accomplish your
"banking secrecy" and expect to fork over three to six
percent of each check for service fees as you cash your checks at
your favorite check-cashing store.
who issue checks to your business or trust will be aware of where
the check was cashed, only your company name or trust's name will
be known, and your name will not be revealed to them, as the check
cashing store's name, bank, and account number will be stamped on
the back of the check — not your name or account number. An illegible
endorsement signature will assure your anonymity. Therefore, only
your "banker" will be aware of who is authorized to receive
money and sign on behalf of the LLC, partnership or trust.
Once you accept
the responsibility of taking charge of your cash, you will be faced
with finding a suitable, private place to store the money. Safe
deposit boxes have served this purpose for those desiring the utmost
in privacy. However, bank safe deposit box holders risk unwanted
intrusions by government agencies, disgruntled spouses, identity
thieves, and others. Also, banker's hours do not allow for the "withdrawal"
you may need for an unexpected expense or a weekend emergency.
Private Vaults, Las Vegas, Nevada (telephone: 702-948-5555)
offers complete secrecy to their private vault clients at reasonable
prices. Founded eight years ago by world-renowned privacy expert,
radio talk show host, and businessman, Mr. Elliot, the company's
private safe deposit boxes are available in a variety of sizes.
You may choose to store U.S. dollars or foreign currency, gold,
silver, rare coins, stock certificates, bonds, or anything of value
in your private vault.
of your storage requirements — small or huge — 24/7 Private Vaults
will meet your business or individual demands. Totally private,
more secure than any bank I've seen, and staffed with excellent
personnel, this unique company is a privacy seeker's dream. Someone
is available to take calls 24 hours a day, 7 days a week, 365 days
a year. Knowledgeable, customer service–oriented staff answer the
phone and field questions 24/7. The president of the company, Mr.
Elliot, is available at certain times during the week.
no Social Security Number or Employer Identification Number, address,
telephone number — not even a name — is required to store your valuables
and cash at 24/7 Private Vaults. Access to the customer's private
vault is accomplished through iris recognition and a numerical code,
anytime day or night. And your privacy is assured as the scanned
recognition of the eye is encrypted once it enters the database,
and it cannot be reproduced. Therefore, your "banking"
privacy is guaranteed.
Think it might
be inconvenient to have your own private vault at a distance? Privacy
has some concessions and is always more inconvenient and expensive
than living an "average" lifestyle. However, with the
proper information and knowledge of how to use those quality privacy
resources available, neither you nor your business will suffer huge
losses through theft of property or money.
Mr. Elliot, president of 24/7 Private Vaults, no business or person's
private vault is subject to seizure, because of the total absence
of identity information required of customers. The company has no
records of the names of individuals or business customers. I encourage
you to call this reputable company (702-948-5555) and to stop in
for a visit when you are in Las Vegas. 24/7
Private Vaults is located at 3110 East Sunset Road, Las Vegas,
Now that you
have a totally private vault — more secure than any bank I have
ever seen — you have essentially created a "current account"
or a place to store your money once you have cashed your checks.
Certain privacy seekers have explained that they convert excess
cash into money orders, while separating the "check" portion
from the proof of purchase and receipts. These safety measures make
it possible to receive reimbursements if the money orders are lost
or stolen. Then, once they are ready to make a trip to their private
vault, either the money order itself or the cash from cashing it
is stored in their private vault.
advocates — especially those facing an emergency — believe the inconveniences
associated with total privacy are a necessary and worthwhile trade-off
for the guaranteed safety of their money.
research for the book, Privacy
Crisis; Identity Theft Prevention Plan and Guide to Anonymous Living
(James Clark King, LLC, 2006), I discovered the most private
and safest entity for holding liquid assets to be a Nevada Limited
Partnership. In fact, at last check, a Nevada Limited Partnership
has never been pierced to satisfy a judgment for an individual who
is a limited partner in any Supreme Court case. Please consult your
attorney for advice on limited partnerships for the purpose of holding
A Nevada Limited
Partnership has been used successfully by privacy advocates who
require privacy and asset protection. Liquid assets, including cash,
stocks, bonds, and stock funds may be held in the partnership's
name. An EIN and partnership information will be required by the
brokerage firm when the limited partner and signer opens the account.
timely in the transfer of personal holdings to a properly structured
Nevada Limited Partnership, I'm told by a reputable attorney that
no one — not the government, your ex's attorney, not the taxman,
no one — can legally seize it for the debt of a limited partner.
And when you insist that Mr. Stockbroker titles the account in only
the partnership name — a name totally unrelated to any partner —
and equip the account with password protection, a company-name debit
card without the signer's name on it, and other privacy precautions
as described in my e-book,
Privacy Crisis, you will have a private account
for holding assets.
generally provide better customer service than do banks, in my opinion.
They have even been known to accept checks for deposit payable to
a partner, individually, into the limited partnership account —
a service that no bank I know of will provide.
and Recommended Reading
combined use of check-cashing stores, an anonymous private vault,
and a Nevada limited partnership, one can accomplish personal and
business financial privacy goals. Brokerage accounts may be suitable
for holding liquid assets of a limited partnership. Individuals
and businesses can accomplish high-level "banking" secrecy
in the U.S.A. For in-depth information and details concerning all
principles and concepts of financial privacy, refer to the e-book,
Crisis, available from the publisher, James Clark King,
Havens Today: The Benefits and Pitfalls of Banking and Investing
Offshore, John Wiley & Sons, Inc., 2007.
- Hall, Grant.
Crisis: Identity Theft Prevention Plan and Guide to Anonymous
Living, James Clark King, LLC, 2006.
- Hill, W.
in Silence, Scope International Ltd., 1998.
Grant Hall [send him mail] is the author of Privacy
Crisis: Identity Theft Prevention Plan & Guide to Anonymous Living.