Popular Science: Here's How Police Officers Can Seize Your Money Electronically


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


According to Popular Science, police officers in Oklahoma are using a device that can seize money from prepaid credit, debit and gift cards by using Electronic Recovery and Access to Data (ERAD) card readers.

The U.S. Department of Homeland Security reported that it is uncommon for criminals to be carrying around large sums of cash and, rather, chose to hide money in bank pre-paid debit and credit cards for later use. In fact, library and hotel key cards can also be retrofitted with magnetic-stripes to be turned into prepaid cards.

The Oklahoma Highway Patrol can now use ERAD scanners to scan a suspect's cards and take money from prepaid cards without a warrant or arrest, Popular Science noted.

"If you can prove that you have a legitimate reason to have that money it will be given back to you," the science blog quoted Oklahoma Highway Patrol Lieutenant John Vincent as telling a local news agency.

However, Oklahoma's State Senator Klye Loveless isn't a fan of the new technology, as it involves assets being seized without a conviction.


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


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Posted In: NewsLegalMediaGeneralElectronic Recovery And Access To Data Card ReadersERAD Card ReadersPopular Science