The agency reportedly has a special division that monitors international banking and credit card transactions, says German news site Der Spiegel. September 16, 2013 7:25 AM PDT (Credit: Declan McCullagh/CNET) "Follow the Money" is not just a slogan but an actual branch within the National Security Agency that spies on payments processed by Visa and other companies, according to Der Spiegel. Citing documents from 2010 leaked by former NSA contractor Edward Snowden, the German news site said on Monday that the "Follow the Money" division funnels the data it gathers into its own financial database. In 2011, that database held 180 million records, with 84 percent of them credit card transaction. The NSA examines the transactions of customers of large credit companies such as Visa as part of its overall surveillance, Der Spiegel said. Specifically, the agency looks for international ties by targeting Visa customers in Europe, the Middle East, and Africa. In response to the findings, a Visa spokesperson issued the following statement to Der Spiegel: We are not aware of any unauthorized access to our network. Visa takes data security seriously and, in response to any attempted intrusion, we would pursue all available remedies to the fullest extent of the law. Further, its Visa's policy to only provide transaction information in response to a subpoena or other valid legal process. Even fellow members of the intelligence community have expressed concerns about the NSA's tracking of financial transactions, Der Spiegel noted. UK intelligence agency GCHQ, which has worked with the NSA, said in a document that the data collection involved "bulk data" full of "rich personal information," much of which "is not about our targets." CNET contacted the NSA for comment and will update the story if the agency responds.
The agency reportedly has a special division that monitors international banking and credit card transactions, says German news site Der Spiegel.
(Credit: Declan McCullagh/CNET)
"Follow the Money" is not just a slogan but an actual branch within the National Security Agency that spies on payments processed by Visa and other companies, according to Der Spiegel.
Citing documents from 2010 leaked by former NSA contractor Edward Snowden, the German news site said on Monday that the "Follow the Money" division funnels the data it gathers into its own financial database. In 2011, that database held 180 million records, with 84 percent of them credit card transaction.
The NSA examines the transactions of customers of large credit companies such as Visa as part of its overall surveillance, Der Spiegel said. Specifically, the agency looks for international ties by targeting Visa customers in Europe, the Middle East, and Africa.
In response to the findings, a Visa spokesperson issued the following statement to Der Spiegel:
We are not aware of any unauthorized access to our network. Visa takes data security seriously and, in response to any attempted intrusion, we would pursue all available remedies to the fullest extent of the law. Further, its Visa's policy to only provide transaction information in response to a subpoena or other valid legal process.
Even fellow members of the intelligence community have expressed concerns about the NSA's tracking of financial transactions, Der Spiegel noted. UK intelligence agency GCHQ, which has worked with the NSA, said in a document that the data collection involved "bulk data" full of "rich personal information," much of which "is not about our targets."
CNET contacted the NSA for comment and will update the story if the agency responds.
