This is your guide to the rules under Title III of the USA PATRIOT Act of 2001 which impose significant new anti-money laundering requirements on all financial institutions—including domestic banks and domestic operations of foreign banks, broker-dealers, futures commission merchants, and investment companies. The new legislation also gives the U.S. Treasury Department the power to impose additional obligations on these institutions and indirectly impacts foreign banks.
Anti-Money Laundering Provisions of the USA PATRIOT Act of 2001 outlines the provisions of Title III, highlights those of particular interest and addresses the Interim Guidance on compliance with Sections 313 and 319(b) of the Act. It also addresses the Interim Guidance on compliance with sections 313 and 319(b) of the USA PATRIOT Act.