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 direct permission and effectively eliminated checks and balances. The purpose of the Act is to oppose or punish international clean and financing of terrorism. It testament alike(predicate) take into account surveillance to specific monetary institutions or types of accounts that may be suspicious. Financial institutions ar now needed to state potential money laundering and the Act will prevent the use of United States financial systems from being use 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 interchangeable accounts in foreign countries. It also prevents situates that are not modulate and have a high risk for money laundering or terrorist financ ing 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 adulterous funds by having the Atty. General or the Secretary of the exchequer issue a subpoena to any foreign swan that has a corresponding United States account.

Financial institutions must halt the identity of customers opening accounts with them and can have immunity for redress coverage suspicious accounts. United States financial institutions are required to develop anti-mo ney laundering policies that encompass emplo! yee training programs. The brokers and dealers of the Securities Exchange missionary work are also required to report suspicious legal action in effect(p) as the banks are. The establishment of a secure lucre is authoritative in this Act. There is a system apply to purify communication between the Crimes Enforcement Agency and Financial Institutions. The PATRIOT Act has generated controversy because it is too...If you want to get a wide-cut essay, rule it on our website: BestEssayCheap.com

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