HOUSE_OVERSIGHT_024117.jpg
2.68 MB
Extraction Summary
1
People
3
Organizations
1
Locations
2
Events
0
Relationships
3
Quotes
Document Information
Type:
Informational report / training material / compliance manual
File Size:
2.68 MB
Summary
This document is a page from a compliance or training manual produced by Protiviti, likely submitted as evidence to the House Oversight Committee. It provides an overview of U.S. Anti-Money Laundering (AML) laws and regulations, distinguishing between money laundering and terrorist financing. It details key legislation including the Bank Secrecy Act of 1970, the USA PATRIOT Act of 2001, and the Money Laundering Control Act of 1986, outlining penalties and compliance requirements for financial institutions.
People (1)
| Name | Role | Context |
|---|---|---|
| George W. Bush | President of the United States |
Signed the USA PATRIOT Act into law.
|
Organizations (3)
| Name | Type | Context |
|---|---|---|
| Protiviti |
Logo appears in the footer, indicating they produced this document.
|
|
| House Oversight Committee |
Referenced in the Bates stamp 'HOUSE_OVERSIGHT_024117'.
|
|
| Office of National Drug Control Policy (ONDCP) |
Referenced in relation to the Reauthorization Act of 1998.
|
Timeline (2 events)
Locations (1)
| Location | Context |
|---|---|
|
Primary jurisdiction for the laws discussed.
|
Key Quotes (3)
"The objective of money laundering is financial gain or the hiding or disguising of illicit proceeds, whereas with terrorism, the objective is to promote the agenda or cause of the terrorist organization."Source
HOUSE_OVERSIGHT_024117.jpg
Quote #1
"Terrorist financing often involves very small amounts of funds, which may be moved through charities or nontraditional banking systems"Source
HOUSE_OVERSIGHT_024117.jpg
Quote #2
"The MLCA established two AML criminal statutes that, for the first time, made money laundering a criminal offense, with penalties of up to 20 years and fines of up to $500,000 for each count."Source
HOUSE_OVERSIGHT_024117.jpg
Quote #3
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