USA PATRIOT Act.
A 2001 U.S. federal law containing anti-money laundering provisions that require financial institutions to
(1) verify the identification of financial account holders;
(2) establish internal anti-money laundering programs that meet specified minimum standards;
(3) cooperate with other financial institutions to deter money laundering; and
(4) report suspected money laundering transactions.
Also known as the Patriot Act.
1 comment:
Well said.
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