|
USA PATRIOT Act, Title III, Subtitle A
The USA PATRIOT Act was passed by the United States Congress in 2001 as a response to the September 11, 2001 attacks. It has ten titles, each containing numerous sections. Title III: International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001 is actually an act of Congress in its own right as well as being a title of the USA PATRIOT Act, and is intended to facilitate the prevention, detection and prosecution of international money laundering and the financing of terrorism. The title's sections primarily amend portions of the Money Laundering Control Act of 1986 and the Bank Secrecy Act of 1970. The provisions of Title III are divided into three subtitles. The first deals primarily with strengthening banking rules specifically against money laundering, especially on the international stage. Communication between law enforcement agencies and financial institutions, as well as among institutions, is expanded by the second subtitle, which also increases record ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
USA PATRIOT Act
The USA PATRIOT Act (commonly known as the Patriot Act) was a landmark Act of Congress, Act of the United States Congress, signed into law by President of the United States, President George W. Bush. The formal name of the statute is the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, and the commonly used short name is a contrived acronym that is embedded in the name set forth in the statute. The Patriot Act was enacted following the September 11 attacks and the 2001 anthrax attacks with the stated goal of tightening U.S. national security, particularly as it related to foreign terrorism. In general, the act included three main provisions: * expanded surveillance abilities of law enforcement, including by Telephone tapping, tapping domestic and international phones; * easier interagency communication to allow federal agencies to more effectively use all available resources in counterterro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Agents Registration Act Of 1938
The Foreign Agents Registration Act (FARA)2 U.S.C. § 611 ''et seq.'' is a United States law that imposes public disclosure obligations on persons representing foreign interests.Foreign Agents Registration Act: An Overview Congressional Research Service. Updated March 7, 2019 It requires "foreign agents"—defined as individuals or entities engaged in domestic lobbying or advocacy for foreign governments, organizations, or ("foreign principals")—to register with the |
Arrest Warrant
An arrest warrant is a warrant issued by a judge or magistrate on behalf of the state, which authorizes the arrest and detention of an individual, or the search and seizure of an individual's property. Canada Arrest warrants are issued by a judge or justice of the peace under the Criminal Code. Once the warrant has been issued, section 29 of the code requires that the arresting officer must give notice to the accused of the existence of the warrant, the reason for it, and produce it if requested, if it is feasible to do so. Czech Republic Czech courts may issue an arrest warrant when it is not achievable to summon or bring in for questioning a charged person and at the same time there is a reason for detention (i.e. concern that the charged person would either flee, interfere with the proceedings or continue criminal activity, see Remand in the Czech Republic). The arrest warrant includes: * identification of the charged person * brief description of the act, for which the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Restraining Order
A restraining order or protective order, is an order used by a court to protect a person in a situation involving alleged domestic violence, child abuse, assault, harassment, stalking, or sexual assault. Restraining and personal protection order laws vary from one jurisdiction to another but all establish who can file for an order, what protection or relief a person can get from such an order, and how the order will be enforced. The court will order the adverse party to refrain from certain actions or require compliance with certain provisions. Failure to comply is a violation of the order which can result in the arrest and prosecution of the offender. Violations in some jurisdictions may also constitute criminal or civil contempt of court. Restraining order provisions All protective order statutes permit the court to instruct an alleged abuser to stay a certain distance away from someone, such as their home, workplace or school ("stay away" provisions), and not to contact the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interbank Network
An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belong to another member of the network. However, the functions which may be performed at the network ATM vary. For example, special services, such as the purchase of mobile phone airtime, may be available to own-bank but not to network ATM cardholders. Furthermore, the network ATM owner may charge a fee for use of network cards (in addition to any fees imposed by the own-bank). Interbank networks enable ATM cardholders to have access to ATMs of other banks that are members of the network when their own bank's ATM is unavailable. This is especially convenient for travelers traveling abroad, where multinational interbank networks, like Plus or Cirrus, are widely available. Interbank networks also permit, through different means, the use of AT ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Corruption
Political corruption is the use of powers by government officials or their network contacts for illegitimate private gain. Forms of corruption vary, but can include bribery, lobbying, extortion, cronyism, nepotism, parochialism, patronage, influence peddling, graft, and embezzlement. Corruption may facilitate criminal enterprise such as drug trafficking, money laundering, and human trafficking, though it is not restricted to these activities. Misuse of government power for other purposes, such as repression of political opponents and general police brutality, is also considered political corruption. Over time, corruption has been defined differently. For example, in a simple context, while performing work for a government or as a representative, it is unethical to accept a gift. Any free gift could be construed as a scheme to lure the recipient towards some biases. In most cases, the gift is seen as an intention to seek certain favors such as work promotion, tipping in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Politician
A politician is a person active in party politics, or a person holding or seeking an elected office in government. Politicians propose, support, reject and create laws that govern the land and by an extension of its people. Broadly speaking, a politician can be anyone who seeks to achieve political power in a government. Identity Politicians are people who are politically active, especially in party politics. Political positions range from local governments to state governments to federal governments to international governments. All ''government leaders'' are considered politicians. Media and rhetoric Politicians are known for their rhetoric, as in speeches or campaign advertisements. They are especially known for using common themes that allow them to develop their political positions in terms familiar to the voters. Politicians of necessity become expert users of the media. Politicians in the 19th century made heavy use of newspapers, magazines, and pamphlets, as well ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shell Banks
A shell bank is a financial institution that does not have a physical presence in any country. In order to prevent money laundering, Subtitle A of the USA PATRIOT Act specifically prohibits such institutions, with the exception of shell banks that are affiliate (under the control) of a bank that has a physical presence in the U.S. or if the foreign shell bank is subject to supervision by a banking authority in the non-U.S. country regulating the affiliated depository institution, credit union, or foreign bank. Provisions The USA PATRIOT Act includes specific provisions designed to limit the use of correspondent accounts for money laundering activity. These provisions are contained in sections 312, 313 and 319(b) and involve limitations on shell bank relationships as well as enhanced due diligence and record keeping requirements. Implementation On 2002-11-28, final regulations (31 CFR 103.177 and 103.185) implementing section 313 and 319(b) of the US Patriot Act became effective. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Holding Companies
A bank holding company is a company that controls one or more banks, but does not necessarily engage in banking itself. The compound bancorp (''banc''/''bank'' + '' corp ration') is often used to refer to these companies as well. United States In the United States, a bank holding company, as provided by the Bank Holding Company Act of 1956 ( '' et seq.''), is broadly defined as "any company that has control over a bank". All bank holding companies in the US are required to register with the Board of Governors of the Federal Reserve System. Regulation The Federal Reserve Board of Governors, under Regulation Y () has responsibility for regulating and supervising bank holding company activities, such as establishing capital standards, approving mergers and acquisitions and inspecting the operations of such companies. This authority applies even though a bank owned by a holding company may be under the primary supervision of the Office of the Comptroller of the Currency or the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payable-through Account
A payable-through account (PTA) is a demand deposit account through which banking agencies located in the United States extend cheque writing privileges to the customers of other institutions, often foreign banks. PTA accounts are a concern to bank regulators because the banks or agencies providing the accounts may not subject the end customers to the same level of scrutiny as they would their own customers. These concerns were addressed iTitle 3A, especially Section 311(b)(4) of the Patriot Act. Foreign financial institutions use PTAs, also known as "pass-through" or "pass-by" accounts, to provide their customers with access to the U.S. banking system. Some U.S. banks, Edge and agreement corporations, and U.S. branches and agencies of foreign financial institutions (collectively referred to as U.S. banks) offer these accounts as a service to foreign financial institutions. Law enforcement authorities have stated that the risk of money laundering and other illicit activities is h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Beneficial Ownership
In domestic and international commercial law, a beneficial owner is a natural person or persons who ultimately owns or controls an interest in a legal entity or arrangement, such as a company, a trust, or a foundation. Legal owners (i.e. the owners on the record), commonly described as the " registered owners", may hold those interests as beneficial owners or for the benefit of someone else, in which case they may be described as a "nominee". Definition In March 2019, an Inter-American Development Bank (IADB) report defined beneficial owners as "always natural persons who ultimately own or control a legal entity or arrangement, such as a company, a trust, a foundation". According to the United States' Securities Exchange Act, a beneficial owner of a security includes any person who, directly or indirectly, has or shares voting or investment power. The terms 'ultimately owns or controls' and 'ultimate effective control' refer to situations in which ownership/control is exercised ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Right To Financial Privacy Act Of 1978
The Right to Financial Privacy Act of 1978 (RFPA; codified at , ''et seq.'') is a United States federal law, Title XI of the Financial Institutions Regulatory and Interest Rate Control Act of 1978, that gives the customers of financial institutions the right to some level of privacy from government searches. Before the Act was passed, the United States government did not have to tell customers that it was accessing their records, and customers did not have the right to prevent such actions. The Act came about after the United States Supreme Court held, in '' United States v. Miller'' 425 U.S. 435 (1976), that financial records are the property of the financial institution with which they are held, rather than the property of the customer. Under the RFPA, the government must receive the consent of the customer before they can access said customer's financial information. The Act prescribes statutory damages of $100 per violation, and a number of different violations can be aggregat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
