Financial Anti-Terrorism Act of 2001

The Financial Anti-Terrorism Act of 2001 gave increased ability to control and monitor financial criminals and the ability to sentence them. The Financial Anti-Terrorism Act allowed:
  • Criminals punishment for those engaged in illegal money practices
  • Provides procedural guidelines for Federal subpoenas for records of funds in correspondent bank accounts
  • Provides Federal jurisdiction over foreign money launderers and over money laundered through a foreign bank

The Financial Anti-Terrorism Act was combined with the USA Act (Public Law 107-56, an expansion of the Foreign Intelligence Surveillance Act of 1978) to form the USA PATRIOT Act of 2001.

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