The Securities and Exchange Commission (SEC) obtained access to a massive international airline ticketing database managed by the Airlines Reporting Corporation (ARC), according to documents released under a Freedom of Information Act request.
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AAPLExtensive travel database
ARC, a clearinghouse partly owned by major airlines including Delta, United, and American, maintained a repository of more than one billion ticket records. The data covered bookings made through popular travel agencies and websites such as Expedia and Kayak. These records included passengers’ full names, associated credit card numbers, departure and arrival cities, and flight numbers.
The SEC subscribed to ARC’s Travel Intelligence Program (TIP), a service providing agencies with an alert system. This tool flagged any new bookings linked to specific individuals on the SEC’s monitoring list, typically highlighting travel activity from the previous twenty-four hours. The agency requested between one and twenty-five alerts each day without requiring a court order or warrant.
With access to such detailed travel and payment trails, financial regulators could monitor the movements and associated purchases of those suspected of wrongdoing in the markets. For crypto holders, this means that any trip to conferences, cross-border gatherings, or financial hubs could also be tracked in connection with the payment methods used for ticket purchases.
No warrant necessary
Regulators acquired passenger data from ARC by simply purchasing access, bypassing the legal process that would normally require a subpoena or court order for similar records. The practice has raised concerns among privacy advocates and lawmakers, who highlighted the growing problem known as the “data broker loophole.” In this approach, agencies buy personal information they would not be able to compel from companies directly, sidestepping judicial approval.
A similar strategy has been employed by the IRS, which also expanded its surveillance of crypto investors and other financial activities through third-party data brokers like ARC. The SEC’s earlier probe into Coinbase reflected the agency’s sustained interest in collecting and analyzing user data.
Amid a shift away from aggressive crypto enforcement under the second term of President Donald Trump, regulators continue to use data-broker workarounds to monitor market players, even as direct legal actions decrease in frequency.
Documents indicate that ARC’s database spanned not only domestic but also foreign-to-foreign air journeys, suggesting a reach far broader than previously understood.
Program shutdown after scrutiny
ARC’s TIP was initially introduced after the September 11, 2001 attacks and, according to ARC, aimed to help track and prevent activities related to money laundering and terrorism. In addition to the SEC, the FBI, IRS, and Homeland Security also made use of the system. However, growing political pressure led to the discontinuation of TIP in 2025.
ARC stated that TIP “was established after the September 11, 2001, terrorist attacks” and “has likely contributed to the prevention and apprehension of criminals involved in… money laundering” and terrorism. Money laundering has been one of the main charges brought against participants in crypto markets.
As government agencies sharpen their monitoring of crypto transactions, market observers stress the importance of staying informed and agile. Combining real-time monitoring and comprehensive data is now critical for investors navigating regulations and surveillance. Tools like CryptoAppsy, which require no account creation, allow users to merge real-time crypto prices, detailed charts, and multi-currency portfolios on a single screen. With features such as instant price alerts, coin-specific news filters, early discovery of new altcoins, and integration of essential macroeconomic indicators—such as Federal Reserve interest rate changes—users are able to respond quickly and remain ahead as market scrutiny intensifies.
