Treasury Proposes Tougher Money-Laundering Rules

Burr, Michael T.
July 2003
Corporate Legal Times;Jul2003, Vol. 13 Issue 140, p21
Trade Publication
Discusses the anti-money laundering (AML) provisions of the USA Patriot Act of 2001, for preventing terrorist financing from entering the United States. Expansion of AML requirements by the Patriot Act; Prospect of civil and criminal penalties to companies who fail to adopt AML policies; Straightforward and vague aspects of Patriot Act compliance; Application of the Bank Secrecy Act in a wide array of transactions under the authority of the Patriot Act; Small firms affected by the cost of compliance. INSET: Patriotic Solutions.


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