Law Manual Outline

THE LAW AND POLICY OF MONEY LAUNDERING, FOREFEITURE, COMPLIANCE AND INTERNATIONAL FINANCIAL CRIMES

Overview and summary: Anti-Money Laundering & Anti-Terrorism Policy

In light of the increase in overall anti-money laundering strategies employed by the U.S. Government post-September 11, 2001, the following contents in this section pertain to the most recent legislation, regulations, policy, and reports pertaining to anti-money laundering efforts. With the enactment of the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001 (USA Patriot Act), myriad changes were created with respect to banking and finance. The Act is designed to attack the financial elements of terrorism and international money laundering. Because of these development, the content included in this section was specifically selected because it is the most relevant dealing with the far-reaching new measures the Act has imposed on financial institutions in the U.S. and internationally. Those contents in this section pertain to U.S. banking and financial institutions.

Money Laundering Prosecution Improvement Act Of 1988

Money Laundering Control Act of 1986

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hanges like the NYSE and others. The content that was specifically selected for this section represents the most pertinent legislation, policy, regulations and reports pertaining to changes having an impact on compliance. U.S. LAW USA Patriot Act of 2001 (Expanded Due Diligence and Record Keeping Obligations Structuring Financial Transactions Amendment Bank Secrecy Act of 1970 (SARs) Requirement for Anti-Money Laundering Compliance Programs REGULATION NASD, INC. Anti-Money Laundering Compliance Program (Rule 3011) New York Stock Exchange Rule (Rule 445) POLICY 40 Recommendations of the Financial Action Task Force (FATF) U.S. Treasury 2002 National Money Laundering Strategy INTERNATIONAL FINANCIAL CRIMES The intent of much of the legislation and policy changes after September 11, 2001, were designed to attack the economic and financial interests of terrorists at home and on the international level. Because of this new legislation, policies, and regulations extend the reach of law enforcement to an international scope with respect to money laundering and monies associated with suspected or known terrorists or their associates. Changes in international finance also include new pressure and recommenda
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Approximate Word count = 1688
Approximate Pages = 7 (250 words per page)