STEP Bahamas Branch and the AIBT USA PATRIOT ACT

More documents

Recommendations

Info

Foreign Bank No definition in the Act Final Rules Issued on September 18th, 2002, adopt the Bank Secrecy Act definition: A foreign bank is “a bank organized under foreign law or an agency, branch or office located outside the United States”. Note: Branches and agencies of foreign banks in U.S.are not included STEP Bahamas & the AIBT September 26th, 2002 19
U.S. Financial Institutions Certain provisions of Patriot Act apply to all financial institutions. Patriot Act defines 30 types of business. They include: banks, brokerage firms, money service business, insurance companies, loan and finance companies…... STEP Bahamas & the AIBT September 26th, 2002 20
Page 1 and 2: STEP Bahamas Branch and the AIBT US
Page 3 and 4: USA Patriot Act of 2001 Uniting and
Page 5 and 6: Terrorism:September 11th, 2001 STEP
Page 7 and 8: Tax Evasion: $70 Billion in Lost Ta
Page 9 and 10: Prior to the Patriot Act • No lev
Page 11 and 12: Prior Unsuccessful Attempts to Pass
Page 13 and 14: Know Your Customer • KYC is Reall
Page 15 and 16: Gatekeeper STEP Bahamas & the AIBT
Page 17 and 18: Is the Act in Force? Certain Provis
Page 19: What is a Financial Institution?
Page 23 and 24: Main Provisions • Sec. 313. Shell
Page 25 and 26: Physical Presence means a place of
Page 27 and 28: What is a Correspondent Account?
Page 29 and 30: Correspondent Accounts: (Banks only
Page 31 and 32: SEC 326 Account Verification Proced
Page 33 and 34: SEC 314 Information Sharing Financi
Page 35 and 36: Enforcement:SEC 319 Forfeiture of F
Page 37 and 38: Patriot Act adds three more foreign
Page 39 and 40: Future Developments Anticipated Und
Page 41 and 42: SEC 325 Omnibus Accounts: Secretary

STEP Bahamas Branch and the AIBT USA PATRIOT ACT

Create successful ePaper yourself

Delete template?

Save as template?