Regulations
| Regulatory Compliance Overview |
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| USA PATRIOT Act |
| Dodd-Frank Act |
| ISO 27001 |
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Submit a no-obligation question about compliance with the USA PATRIOT Act.
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USA PATRIOT Act
Besides extending law enforcement's surveillance and investigative powers and easing restrictions on foreign intelligence gathering within the US, the USA PATRIOT Act also expanded the Secretary of the Treasury's authority to regulate financial transactions, particularly those involving foreign individuals and entities.
One provision of the USA PATRIOT Act requires financial services companies to develop improved capabilities to identify customers and flag suspicious transactions, making businesses responsible for seeking, detecting, and reporting computer trespasses.
Banks in particular are expected to identify, discover, gather, amass, investigate, and report on financial activity to a far greater degree and depth than was previously expected of them.
As the bar gets higher each year for examination requirements, the amount of time spent preparing for audits and exams can outstrip the time spent on defining appropriate security strategies.
InfoSight can help you get a stay-in-compliance program in place, and keep you abreast of revisions to the USA PATRIOT Act as well as other rules.
Contact us today today for a no-obligation consultation.
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What is
the USA PATRIOT Act?
The USA PATRIOT Act (commonly known as the "Patriot Act") is an Act of the U.S. Congress and signed into law by President George W. Bush on October 26, 2001, shortly after the terrorist attacks on Sept 11, 2001. The title of the Act is a contrived acronym, which stands for Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001. The Act gives federal officials greater authority to track and intercept communications, both for law enforcement and foreign intelligence gathering purposes. It vests the Secretary of the Treasury with regulatory powers to combat corruption of U.S. financial institutions for foreign money laundering purposes. It seeks to further close our borders to foreign terrorists and to detain and remove those within our borders. It creates new crimes, new penalties, and new procedural efficiencies for use against domestic and international terrorists.
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