We’ve all learned not to crack security jokes in in the TSA airport lines.
Now we have to be careful when labeling our online payments.
Use certain words on a government hit list, and your payment might be delayed or confiscated as the financial institution investigates possible terrorist ties.
Just ask the guy who used “ISIS Beer Funds” as a whimsical label on his Venmo payment to a friend for a couple of late-night pitchers of Samuel Adams Boston Lager. He never saw his $42 again.
Blocking payments is called “flagging,” and it’s mandated by the federal government. Failure to stop an illegal flow of money comes with hefty penalties for banks or online person-to-person payment services such as Venmo.
