I wonder if the US government ever considered the possibility that 6+ million snail mail letters from around the world and addressed to the “United States Department of the Treasury”, containing the sensitive whereabouts and financial data of targets of terrorism, would fall into the wrong hands while being passed around from one foreign stranger to another during its long global travel to Detroit.
“U.S. citizens are reminded to maintain a high level of vigilance and to take appropriate steps to increase their security awareness… The Department of State remains concerned about the continued threat of terrorist attacks, demonstrations, and other violent actions against U.S. citizens and interests overseas… The threat of attacks against U.S. citizens, including kidnapping and terrorist violence, is expected to continue…”
U.S. Department of State – Worldwide Caution
“In today’s society, the old mailbox needs to go away,” he said. “I think you need to be real careful now and get a secured mailbox.”
200 in county recent victims of mail theft
One would think that the last thing that an American abroad would want would be for them to be fined $10000+ by the US government since a terrorist intercepted their FBAR snail mail letter titled to the “United States Department of the Treasury” and emptied their bank accounts prior to kidnapping their kids, thanks to the easily identifiable sensitive data provided.
“Thieves steal mail from postal trucks, collection boxes, apartment mailbox panels, co-op mailing racks, and neighborhood delivery and collection box units. They want your checks, your credit card applications, your bank account statements.”
United States Postal Inspection Service
What most Americans abroad probably don’t know, is that they can file FBAR online free of charge without providing terrorists an easily identifiable treat.
“BSA E-Filing is less expensive, faster, more accurate, and more secure than other filing methods. The BSA E-Filing System supports electronic filing of Bank Secrecy Act (BSA) forms (either individually or in batches) through a FinCEN secure network.”
BSA E-Filing System
“NOTICE: On February 24, 2012, the Financial Crimes Enforcement Network (FinCEN) issued a final notice requiring the electronic filing of most FinCEN reports by July 1, 2012. Institutions are strongly encouraged to begin using the BSA E-Filing System as soon as possible.”
Financial Crimes Enforcement Network
Now, I don’t see the point of reporting my retirement savings and I hope that this BSA E-Filing doesn’t require for the same data to be reentered year after year over and over and over again. But, e-filing is safer and cheaper than snail mail and the application form doesn’t require Americans abroad to enter the required US state that they don’t live in.