The Patriot Act

The patriot diddle was enacted after the September 11, 2001 attacks. It was gear uped as an anti-terrorism defense. It gives law enforcement and foreign intelligence massive search and take permission and effectively eliminated checks and balances. The purpose of the Act is to oppose or punish international launder and financing of terrorism. It pull up stakes equivalent take into account surveillance to specific monetary institutions or types of accounts that may be suspicious. Financial institutions ar now postulate to state potential money laundering and the Act will prevent the use of United States financial systems from being utilize by corrupt foreigners. The main components of the PATRIOT Act argon those elements that provide for surveillance or prevention of non-United States accounts that claim corresponding accounts in foreign countries. It also prevents situates that are not modulate and have a high risk for money laundering or terrorist f inancing to have access to the United States financial system. new(prenominal) components allow law enforcement to identify and/or prevent terrorist acts by the sharing of information with other agencies. The Act allows seizure of unlawful funds by having the Atty. General or the Secretary of the treasury issue a subpoena to any foreign trust that has a corresponding United States account. Financial institutions must learn the identity of customers opening accounts with them and can have immunity for insurance coverage suspicious accounts. United States financial institutions are inevitable to develop anti-money laundering policies that encompass employee training programs. The brokers and dealers of the Securities Exchange tutelage are also required to report suspicious action mechanism in effect(p) as the banks are. The establishment of a secure electronic network is authoritative in this Act. There is a system apply to purify communication between t he Crimes Enforcement Agency and Financial I! nstitutions. The PATRIOT Act has generated controversy because it is too...If you want to get a intact essay, rule it on our website: BestEssayCheap.com

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