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New CCH Book Details Money-laundering Rules For Banks, Others
(RIVERWOODS, ILL., May 16, 2002) – As part of a comprehensive
anti-terrorism initiative, Congress included new and more
comprehensive anti-money laundering provisions in the USA PATRIOT ACT
of 2001, designed, as one senator said, to seal "the
cracks in our financial systems that terrorists and other criminals
are all to ready to exploit."
Now, CCH INCORPORATED (CCH), a leading provider of banking, business
and tax law information and software is offering a comprehensive
explanation of these provisions in the CCH Guide to Anti-Money
Laundering and Bank Secrecy: Compliance and the USA PATRIOT Act.
(550 pages, $50. To order or for more information, visit the CCH
Online Store at onlinestore.cch.com
or call 800-248-3248.)
The USA PATRIOT Act amends the Bank Secrecy Act (BSA) making it
more effective in combating financial crime – particularly, the
financing of terrorism.
Calling on banks, credit unions, securities brokers and dealers,
and other types of "financial institutions" – including
check-cashing services and currency exchanges – the USA PATRIOT Act
requires enhanced scrutiny of financial transactions for persons
abroad, in addition to the recordkeeping and reporting obligations
already in effect.
Complete Reference for Compliance
Compliance is essential in protecting a business’ bottom line
given the financial sanctions available to the government. Compliance
is equally important for protecting institutional reputation since no
institution would want its name linked to the financing of terrorism.
The CCH Guide to Anti-Money Laundering and Bank Secrecy helps
ensure that institutions never have to face that situation.
The new CCH Guide to Anti-Money Laundering and Bank Secrecy:
Compliance and USA PATRIOT Act, authored by John M. Pachkowski, is
a complete reference to all facets of compliance with the laws,
regulations and policies related to the BSA. In addition, this
authoritative reference addresses the economic sanctions programs
administered by the Office of Foreign Assets Control (OFAC) —
powerful foreign policy tools in dealing with the financing of
terrorism. As with the USA PATRIOT Act, the success of these sanctions
requires the active participation and support of every financial
In addition to a thorough analysis, the Guide contains the
complete text of relevant laws, regulations and agency issuances, as
well as BSA and OFAC forms.
About the Author
John M. Pachkowski is an attorney and senior banking analyst for CCH
Federal Banking Law Reports and CCH Bank Compliance Guide. Pachkowski
is co-author of CCH Financial Services Modernization –
Gramm-Leach-Bliley Act of 1999 – Law and Explanation and CCH
Federal Privacy Rules for Financial Institutions.
Availability and Pricing
For more information or to order the 550-page CCH Guide to
Anti-Money Laundering and Bank Secrecy: Compliance and the USA PATRIOT
Act, call 800-248-3248 or visit the CCH Online Store at onlinestore.cch.com.
Single copy price is $50 plus applicable tax, shipping and handling.
Quantity discounts and school adoption pricing available.
About CCH INCORPORATED
CCH INCORPORATED, headquartered in Riverwoods, Ill., was founded in
1913 and has served four generations of business professionals and
their clients. The company produces more than 700 electronic and print
products for the tax, legal, banking, securities, human resources,
health care and small business markets. CCH is a wholly owned
subsidiary of Wolters Kluwer North America. The CCH web site can be
accessed at cch.com.
The CCH Business and Finance site can be accessed at business.cch.com.
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EDITORS NOTE: For members of the press, a complimentary review copy
of CCH Guide to Anti-Money Laundering and Bank Secrecy: Compliance
and USA PATRIOT Act is available by contacting Leslie Bonacum at
824-267-7153 or firstname.lastname@example.org.