The Patriot Act enhances the powers of the federal government and law enforcement organizations to combat money laundering and terrorism. The new law is very broad and covers not only traditional financial institutions, but also non-bank financial institutions. On September 18, 2002, the U.S. Department of Treasury released its Notice...
The U.S. Treasury Department issued its PATRIOT Act anti-money-laundering rules for the jewelry industry--and most smaller retail jewelers will be exempt from its obligations, the Jewelers Vigilance Committee has announced. The U.S. Treasury Department issued its PATRIOT Act anti-money-laundering rules for the...
On January 21, 2003, the U.S. Treasury Department published a notice (the "Release") of a proposed rule ("Proposed Rule") in the Federal Register, which, if adopted as proposed, would require open-end investment companies ("Mutual Funds") to file suspicio On January 21, 2003, the U.S. Treasury...
Among the three major national agent/broker associations, the question of how insurance producers will comply with the Patriot Act's money laundering provisions is far from settled, to the point where there are divergent views within the industry ove Among the three major national agent/broker associations, the...
Overseeing broker-dealers' anti-money-laundering programs is one responsibility the $7 trillion mutual fund industry would rather take a pass on. But if the Department of the Treasury fails to change one of its rules, broker-dealers that have Overseeing broker-dealers'...
Byline: Ed Lanfranco, THE WASHINGTON TIMES BEIJING - The top U.S. negotiator for North Korea's nuclear programs said yesterday that the thorny problem of financial sanctions had been resolved and talks could focus on the real issues. The sixth round of talks...
Byline: Bill Gertz, THE WASHINGTON TIMES North Korea and Iran are being squeezed financially by U.S. efforts to discourage international banks and financial institutions from helping the regimes' illicit activities, said the Treasury Department's point man on the issue. Stuart Levey,...
It's not the catch-all for explaining dealership processes and procedures The following information was gleaned from a variety of sources, including The USA Patriot Act, The Foreign Assets Control Regulations, U. S. Department of the Treasury, and Tom Hudson, Esq. Nothing in this article is intended as legal advice. Consult...
Byline: Andrew Salmon, THE WASHINGTON TIMES SEOUL - The head of the only foreign-run bank in North Korea is considering legal action against the Macau government to free funds frozen at the Chinese enclave's Banco Delta Asia a step that could cause strains...
M2 PRESSWIRE-1 March 2006-Virginia Department of Agriculture and Consumer Services: State warns public about charity allegedly funneling funds to terrorist organizationsC1994-2006 M2 COMMUNICATIONS LTD RDATE:01032006 The Virginia Department of Agriculture and Consumer Services' Office of Consumer Affairs OCA is alerting the...
Congress may soon allow parts of the USA Patriot Act to expire, but no rest is expected for weary broker-dealers. It's unlikely that Congress will strike down the provisions of the act involving broker-dealers any time soon, industry observers say. This despite the fact that the anti-money-laundering programs...
Since the promise of further USA PATRIOT Act promulgation by the U.S. Treasury Department fell away in June, life insurance and annuity companies have been holding their breath, waiting for an imminent vote by the 109th Congress that could add even more regulatory compliance requirements for...
THE SECURED LENDER is pleased to present this new feature, designed to provide readers with snippets of industry news and notes. The commercial finance industry has been waiting for the U.S. Treasury Department to issue regulations requiring commercial finance companies to implement anti-money laundering programs since the...
The Financial Crimes Enforcement Network FinCEN, a bureau of the U.S. Department of Treasury, published on June 9 the "interim final" version of its "Anti-Money Laundering Programs for Dealers in Precious Metals, Stones, or Jewels," a series of regulations passed under the USA Patriot Act. The...
HERNDON, Va. & CLEVELAND -- Language Analysis Systems, makers of powerful name recognition software, and Compliplan, a management-consulting firm, have partnered to help insurance companies comply with the U.S.A. Patriot Act and OFAC Watch List, the companies announced today. Cleveland-based Compliplan provides advisory services to insurance companies for...
URL: http://www.themoscowtimes.com/ A Belarussian bank with connections to Russia laundered funds for former Iraqi dictator Saddam Hussein, enabling him to skirt UN sanctions, the U.S. government charged this week. Infobank, which the U.S. Treasury Department says is owned in part by the Belarussian government and...
Patriot Act Update: Commercial Finance Industry Awaits Anti-money Laundering Regulations For the last two years, asset-based lenders and factoring companies have been anxiously awaiting publication of regulations establishing antimoncy-laundcring requirements for commercial finance and factoring companies. The regulations, originally scheduled to be issued in 2002, have been...
Business Editors NORWALK, Conn.--BUSINESS WIRE--May 4, 2004 First-Ever Integration of Enhanced Compliance Technology Ensures that Private Foundations Conform to US and International Anti-Terrorism Initiatives Foundation Source, the nation's leading provider of outsourced services for private foundations, announced major strategic upgrades...
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