Govt to give more power to spy on banks

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The government is planning to widen the powers of the Federal Intelligence Service and allow it to snoop on banks.

It wants to be able to investigate transactions that may include terrorist funding. 

Currently the agency has no power to ask banks for customer information – even if the customer is seen as a security risk.

Any search of a bank would need the authorization of the defence, justice and foreign ministries. 

The move is being discussed now until September 9th. 

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