Implications of the US PATRIOT Act for International Financial Services Agencies

MessageThis Webinar is over
Date Nov 29, 2017
Time 01:00 PM EDT
Cost $200.00
Although enacted in response to the attacks on 9/11, the USA Patriot Act continues to lead regulatory requirements in the banking and financial industry regarding money laundering the threat of terrorist financing. This webinar will look at the evolution of financial AML/CTF since the initial adoption of the USA Patriot Act, its growing influence not only on US institutions but globally as well. The webinar will address evolving issues, such as the requirement for beneficial ownership and risk management requirements. The discussion will also address evolving customer due diligence and the role of IT in compliance.

Objectives of the Presentation
  • What are the main focus areas of the USA Patriot Act?
  • What institutions and organizations are subject to the USA Patriot Act as modified through the years?
  • What has been the effect of the USA Patriot Act?
  • In what ways, does the USA Patriot Act affect international financial transactions?
  • What is "beneficial ownership"?
  • What is in store for the future for the USA Patriot Act?
Why Should you Attend
Financial institutions have been subjected to an ever growing litany of regulations over the past two decades. Some of these regulations trace their history to the 9/11 attacks and efforts by regulators and law enforcement to prevent future attacks, particularly through restricting the use of the financial system for money laundering and terrorist financing. Failure to comply with these requirements exposes to loss of reputation, lawsuits and judgments, loss of investment value, and serious fines, penalties and possible imprisonment for institution officers and directors. 

Areas Covered
  • Legislative history of the USA Patriot Act and amendments
  • Organizations and persons subject to the Act
  • Requirements of the Act
  • Impact of the Act on money laundering and terrorist financing
  • Sanctions and penalties for failure to comply
  • Customer Due Diligence, beneficial ownership and risk management
*Please call 510.857.5841 or email if you need any assistance to register for this event.


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