US Treasury’s FinCen irons the kinks out of the Patriot Act


WASHINGTON, DC -- The Financial Crimes Enforcement Network (FinCen), the US Treasury’s anti-money laundering arm, continues to struggle with the implementation of the US Patriot Act.

A moratorium on Section 314(a), "Information requests", was lifted in mid-February after two and a half months. The rule authorises law enforcement authorities and financial institutions to communicate about suspected money launderers and terrorists, but when it was implemented in November 2002 requests for infor

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