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Outline
In the wake of the terrorist attacks in September 2001, President Bush signed into law, on October 26, 2001, the International Money Laundering Abatement and
Anti-Terrorist Financing Act of 2001, which was enacted as Title III of the
anti-terrorism legislation entitled Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the “USA Patriot Act” or “Act”).
The Act included a number of measures designed to enhance the detection and prevention of money laundering and terrorist financing. The USA PATRIOT Act’s anti-money laundering (“AML”) provisions principally amended the Bank Secrecy Act (“BSA”) (31 U.S.C. § 5311 et. seq.), which is the principal U.S. AML legislation. Title III of the USA PATRIOT Act is implemented largely through regulations issued by the U.S. Department of the Treasury (“Treasury”) through its Financial Crimes Enforcement Network (“FinCEN”).
Applicable law
Detailed information
Correspondent Accounts for Non-U.S. Financial Institutions
Private Banking Accounts for Non-U.S. Persons
Authority Granted to the Secretary of the Treasury to Impose Special
Measures Concerning Jurisdictions and Non-U.S. Financial Institutions
Anti-Money Laundering Programs
Customer Identity Verification
Suspicious Activity Reporting
Information Sharing by U.S. Institutions Regarding Suspected Terrorists and
Money Launderers
Other Provisions of Interest
Frequently asked questions
Useful links
This site has been prepared by:
Marc. R. Cohen, Esq.
Pillsbury Winthrop Shaw Pittman LLP
2300 N Street, NW
Washington, D.C.
20037, USA
202.663.8017
E-mail:
marc.cohen@pillsburylaw.com
www.pillsburylaw.com
November 2007 | 
