USAPATRIOT Act financial definition of USAPATRIOT Act
USA PATRIOT Act (redirected from USAPATRIOT Act)
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USA PATRIOT Act
Legislation in the United States, enacted in 2001 shortly after the September 11 terrorist attacks, that increased the federal government's surveillance and enforcement powers with the intent of combating terrorism. Among other provisions, it expanded the powers of the Secretary of the Treasury
to monitor financial
transactions, especially internationally, and cracked down on money laundering
References in periodicals archive
The key recent components of the financial sanctions regime in place against Ivan include: (1) the Comprehensive Ivan Sanctions, Accountability, and Divestment Act of 2010 (CISADA); (46) (2) the USAPATRIOT Act
money laundering designation of 2011; (47) (3) the National Defense Authorization Act of 2012 (NDAA); (48) (4) the Ivan Threat Reduction and Syria Human Rights Act of 2012 (ITRA); (49) and (5) the National Defense Authorization Act of 2013, which included the Iran Freedom and Counter-Proliferation Act (IFCPA).
In 2003, the United States also designated Burma as a jurisdiction of primary money laundering concern and imposed countermeasures, pursuant to Section 311 of the USAPATRIOT Act
, because of its extremely weak anti-money laundering /counter-terrorist financing (AML/CFT) regime.