Download or read book The Anti money Laundering Provisions of the USA Patriot Act written by Burak Dolar and published by . This book was released on 2007 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The USA Patriot Act (Patriot Act) is an extensive anti-terrorism law that aims to strengthen the nation's defenses against terrorism. The money laundering provisions under Title III of the Act target the financial infrastructure of criminal organizations and terrorist groups. The new anti-money laundering (AML) legislation requires the private sector to take a more active role in the fight against money laundering and terrorist financing. Accordingly, the cost of doing business has increased dramatically for businesses, most of which are in the financial services industry. However, the regulatory burden of the Patriot Act fell more heavily on some institutions than the others. In this dissertation, I use the heterogeneous-firm model of regulation derived from the interest-group theory of government to test whether or not the money laundering provisions of the Patriot Act led to a wealth transfer from small commercial banks and thrifts to large ones. The empirical evidence suggests that small institutions have borne a disproportionately greater compliance burden than their large competitors. I also test a number of hypotheses derived from the public-interest theory of government that institutions which are more likely to be targeted by money launderers have been affected more by the new law in terms of compliance burden than the ones which are not. Empirical findings do not support a positive correlation between money laundering risk and compliance burden borne by institutions.
Download or read book Anti money Laundering Provisions of the USA Patriot Act of 2001 written by Betty Santangelo and published by . This book was released on 2002 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anti-Money Laundering Provisions of the USA PATRIOT Act of 2001 covers rules under Section 313 and 319(b) of the Act. on October 26, 2001, President Bush signed the USA PATRIOT Act aimed at giving the government new powers in the war on terrorism. Title III of the new legislation, the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, imposes significant new anti-money laundering requirements on all financial institutions, including domestic banks and domestic operations of foreign banks, broker-dealers, futures commission merchants, and investment companies, and gives the U.S. Treasury Department the power to impose potential additional obligations on them as well. It also indirectly impacts foreign banks. This new title from CCH outlines the provisions of Title III and highlights provisions of particular interest to the various affected financial institutions. It also addresses the Interim Guidance on compliance with sections 313 and 319(b) of the USA PATRIOT Act.
Download or read book Anti money laundering Provisions of the USA PATRIOT Act written by Maine. Bureau of Insurance and published by . This book was released on 2002 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The financial war on terrorism and the administration s implementation of Title III of the USA Patriot Act written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2003 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book USA Patriot Act written by Loren Yager and published by DIANE Publishing. This book was released on 2009-06 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 9/11, the U.S. has established tools to address the threat to the U.S. financial system of money laundering and terrorist financing. One tool is Sect. 311 of the USA PATRIOT Act, which authorizes the Treasury Dept. to prohibit U.S. financial institutions from maintaining certain accounts for foreign banks if they involve foreign jurisdictions or institutions found to be of primary money laundering concern. To make this finding, Treasury examines several factors and issues a proposed rule announcing its intent to apply Sect. 311 restrictions. This report examines: (1) the process used to implement Sect. 311 restrictions; (2) the process Treasury follows to finalize or withdraw a proposed rule; and (3) how Treasury assesses the impact of Sect. 311. Illustrations.
Download or read book USA PATRIOT Act additional guidance could improve implementation of regulations related to customer identification and information sharing procedures report to congressional requesters written by and published by DIANE Publishing. This book was released on 2005 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Altering the Financial Services Landscape written by Barry Metzger and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The USA Patriot Act written by Alphonse B. Ewing and published by Nova Biomedical Books. This book was released on 2002 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The USA Patriot Act passed in the wake of the September 11 terrorist attacks. It flows from a consultation draft circulated by the Department of Justice, to which Congress made substantial modifications and additions. The stated purpose of the Act is to enable law enforcement officials to track down and punish those responsible for the attacks and to protect against similar attacks. The Act grants federal officials greater powers to trace and intercept terrorists' communications both for law enforcement and foreign intelligence purposes. It reinforces federal anti-money laundering laws and regulations in an effort to deny terrorists the resources necessary for future attacks. It tightens our immigration laws to close our borders to foreign terrorists and to expel those among us. Finally, it creates a few new federal crimes, such as the one outlawing terrorist attacks on mass transit; increases the penalties for many others; and institutes several procedural changes, such as a longer statute of limitations for crimes of terrorism. Critics have suggested that it may go too far. The authority to monitor e-mail traffic, to share grand jury information with intelligence and immigration officers, to confiscate property, and to impose new book-keeping requirements on financial institutions, are among the features troubling to some. The Act itself responds to some of those reservations. Many of the wiretapping and foreign intelligence amendments sunset on 31 December 2005. The Act creates judicial safeguards for e-mail monitoring and grand jury disclosures; recognises innocent owner defences to forfeiture; and entrusts enhanced anti-money laundering powers to those regulatory authorities whose concerns include the well being of our financial institutions.
Download or read book Anti Money Laundering Deskbook written by Nicole S. Healy and published by . This book was released on 2018-09-04 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anti-Money Laundering Deskbook defines the terms, and then walks the reader through the federal statutory framework that has evolved substantially since 9/11, the USA PATRIOT Act, and the many statutes and regulations governing money laundering, structuring financial transactions, terrorist finance, and forfeiture.
Download or read book United States Code written by United States and published by . This book was released on 2013 with total page 1506 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The United States Code is the official codification of the general and permanent laws of the United States of America. The Code was first published in 1926, and a new edition of the code has been published every six years since 1934. The 2012 edition of the Code incorporates laws enacted through the One Hundred Twelfth Congress, Second Session, the last of which was signed by the President on January 15, 2013. It does not include laws of the One Hundred Thirteenth Congress, First Session, enacted between January 2, 2013, the date it convened, and January 15, 2013. By statutory authority this edition may be cited "U.S.C. 2012 ed." As adopted in 1926, the Code established prima facie the general and permanent laws of the United States. The underlying statutes reprinted in the Code remained in effect and controlled over the Code in case of any discrepancy. In 1947, Congress began enacting individual titles of the Code into positive law. When a title is enacted into positive law, the underlying statutes are repealed and the title then becomes legal evidence of the law. Currently, 26 of the 51 titles in the Code have been so enacted. These are identified in the table of titles near the beginning of each volume. The Law Revision Counsel of the House of Representatives continues to prepare legislation pursuant to 2 U.S.C. 285b to enact the remainder of the Code, on a title-by-title basis, into positive law. The 2012 edition of the Code was prepared and published under the supervision of Ralph V. Seep, Law Revision Counsel. Grateful acknowledgment is made of the contributions by all who helped in this work, particularly the staffs of the Office of the Law Revision Counsel and the Government Printing Office"--Preface.
Download or read book USA Patriot Act written by Carl A. Fornaris and published by . This book was released on 2006 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Guidebook to the New Bank Secrecy Act as Amended by the USA Patriot Act of October 26 2001 written by Alert Global Media and published by . This book was released on 2002 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Anti Money Laundering written by Wouter H. Muller and published by John Wiley & Sons. This book was released on 2007-06-05 with total page 852 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anti-Money Laundering is the definitive reference on money laundering and practice. First an outline will be given of the general approach taken by supra-national organisations like the United Nations and the European Council. Next the approach taken by international organisations and initiatives on the basis of the supra-national initiatives will be outlined by senior members of those organisations. A number of countries will then describe their specific prevention legislation. Countries involved will all be member-countries of the FATF (Financial Action Task Force on Money Laundering). Finally there will be an overview to enable the reader to make a comparison between the most important topics of money laundering legislation and rules in the different countries.
Download or read book USA Patriot Act Title III written by and published by PediaPress. This book was released on with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book PATRIOT Act Oversight written by United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations and published by . This book was released on 2002 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The USA Patriot Act written by Richard D. Marshall and published by . This book was released on 2002 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book CCH Guide to Anti money Laundering and Bank Secrecy written by John M. Pachkowski and published by Cch Incorporated. This book was released on 2002 with total page 812 pages. Available in PDF, EPUB and Kindle. Book excerpt:
