Patriot impact

The extraordinary efforts by the US government to thwart terrorist financing have leant heavily on the financial services industry, which continues to bear the brunt of the new anti-money laundering legislation. Philip Fine provides an overview on how American financial institutions are coping in the post Sept 11 era.

The omnibus USA Patriot Act , brought in just six weeks after the 11 Sept 2001 attacks, was meant to pour sugar down the gas tank of terrorism’s financial engines.