This raises two questions: To whom, or what agency, will these financial institutions report this “suspicious activity,” and what constitutes this “suspicious activity” in the first place? Why financial institutions have decided unilaterally to monitor firearms sales.
The weekend announcement that three major credit entities will “use a new code for gun shop purchases in US stores” has touched off a fury in the firearms community, with the National Rifle Association telling Business Insider the move “is nothing more than a capitulation to anti-gun politicians and activists bent on eroding the rights of law-abiding Americans one transaction at a time.”
The report identified Visa, MasterCard and American Express as having adopted the coding idea “after the International Organization for Standardization, a Geneva-based nonprofit, approved the creation of a merchant code for gun retailers,” according to Yahoo News.
New York City Mayor Eric Adams, who reportedly blames his city’s spike in violent crime on “the proliferation of guns,” according to the Associated Press. There was no mention of the liberal policies toward criminals.