by Mac Slavo
Last month All News Pipeline warned that major banks were preparing to tighten the screws on American account holders starting April 1st.
It appears that the lock-down of cash has begun.
Citing criminal activity as a factor, JP Morgan is limiting cash withdrawals at ATM machines.
The bank said there doesn’t appear to be fraud involved. But partly due to heightened regulatory scrutiny, banks are paying more attention to large cash transfers that could be a sign of money laundering or other types of shady activity. Typically, the card-issuing bank sets withdrawal limits, not the bank owning the ATM.