Patriot Act Section 311

These options provide the treasury department with a powerful and flexible regulatory tool to take actions to protect the u s.

Patriot act section 311. To sever ties with the designated bank. Patriot act to designate institution of primary money laundering concern and impose a special measure which effectively cuts off the bank s access to the u s. Financial system from specific threats.

Special measures for jurisdictions financial institutions or international transactions of primary money laundering concern. A in general subchapter ii of chapter 53 of title 31 united states code is amended by inserting after section 5318 the following new section. Institutions as well as foreign institutions that create an indirect link between the foreign institution and the u s.

Section 311 of the usa patriot act provides the secretary with a range of options that can be adapted to target specific money laundering and terrorist financing risks most effectively. Below is a brief non comprehensive overview of the sections of the usa patriot act that may affect financial institutions. The usa patriot act was signed into law on october 26 2001.

Taken as a whole section 311 of the usa patriot act provides the secretary with a range of options that can be adapted to target specific money laundering and terrorist financing risks most effectively. Financial system by requiring u s.