Latest USA PATRIOT Act, Title III Stories

2006-03-08 19:05:51

By Kristin Roberts WASHINGTON (Reuters) - The U.S. House on Wednesday approved a bill that aims to ease oversight of the financial services industry by eliminating what are seen as redundant and outdated requirements imposed by current federal regulations. The sweeping legislation, supported by both the financial industry and U.S. regulators, also cuts back on compliance requirements under federal anti-money laundering laws, reducing the number of filings that banks will be forced to...

2006-01-11 13:57:11

By Laura MacInnis WASHINGTON (Reuters) - Internet banking, online payment systems and stored value cards not requiring identification give criminals new opportunities to filter money through the United States, U.S. regulators said on Wednesday. Representatives of the Treasury Department, Federal Reserve, Justice Department and other government enforcement agencies urged in a Money Laundering Threat Assessment report more cooperation to squeeze money launderers and narrow potential...

2005-10-31 19:46:27

WASHINGTON (Reuters) - A U.S. Treasury official said on Monday that banks should not fear regulatory punishment for relaxing certain anti-money laundering rules to help victims of disasters, as long as they exercise "reasonable caution." In the aftermath of hurricanes such as Katrina, which devastated parts of the southern United States, some banks have eased customer identification requirements and other procedures as part of nationwide efforts to speed up aid to the victims who in...

2005-09-23 14:26:46

WASHINGTON (Reuters) - A U.S. Treasury official on Friday called for more international action in designating groups and individuals as linked to terrorism and freezing their assets, saying doing so is key to preventing attacks. Most countries have taken steps to block assets of people and groups associated with al Qaeda, said Daniel Glaser, assistant secretary for terrorist financing and financial crimes. But many countries have taken little or no action to block assets of other...

2005-06-30 15:39:56

WASHINGTON (Reuters) - U.S. banking regulators on Thursdayissued a long-awaited set of unified standards for bankexaminers evaluating financial institutions' compliance withthe Bank Secrecy Act, an anti-money laundering law. The 330-page manual does not set new rules or offer newguidance, according to the Federal Financial InstitutionsExamination Council, a group of financial regulatory agencies. Instead, the compilation of existing guidance on a varietyof BSA-related topics, including...

Word of the Day
  • A beast of burden; also, a beast in general.
'Jument' ultimately comes from the Latin 'jugum,' yoke.