ARTICLE
28 March 2002

USA PATRIOT Act

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Bahamas Financial Services Board

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The Bahamas Financial Services Board (BFSB), launched in April 1998, represents an innovative commitment by the financial services industry and the Government of The Bahamas to promote a greater awareness of The Bahamas’ strengths as an international financial centre. The Board is a multidisciplinary body that embraces active contribution from individuals within government, banking, trust and investment advisory services, insurance and investment fund administration as well as interested legal, accounting and management professionals.
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The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act, P. L. 107-56, was part of the Congressional response to September 11.

According to a Congressional Research Service (CRS) "Report to Congress", the Act consists of ten titles which, among other things:

1) give federal law enforcement and intelligence officers greater authority (at least temporarily) to gather and share evidence particularly with respect to wire and electronic communications;

2) amend federal money laundering laws, particularly those involving overseas financial activities;

3) create new federal crimes, increase the penalties for existing federal crimes, and adjust existing federal criminal procedure, particularly with respect to acts of terrorism;

4) modify immigration law, increasing the ability of federal authorities to prevent foreign terrorists from entering the U.S., to detain foreign terrorist suspects, to deport foreign terrorists, and to mitigate the adverse immigration consequences for the foreign victims of September 11; and

5) authorize appropriations to enhance the capacity of immigration, law enforcement, and intelligence agencies to more effectively respond to the threats of terrorism.

These Titles are:

Title I - Enhancing Domestic Security Against Terrorism

Title II - Enhanced Surveillance Procedures

Title III - International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001

Title IV - Protecting the Border

Title V - Removing Obstacles to Investigating Terrorism

Title VI - Providing for Victims of Terrorism, Public Safety Officers, and Their Families

Title VII - Increased Information Sharing for Critical Infrastructure Protection

Title VIII - Strengthening the Criminal Laws Against Terrorism

Title IX - Improved Intelligence

Title X - Miscellaneous

The content of this article does not constitute legal advice and should not be relied on in that way. Specific advice should be sought about your specific circumstances.

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