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 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 institution.

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 Single copy price is $50 plus applicable tax, shipping and handling. Quantity discounts and school adoption pricing available.


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 The CCH Business and Finance site can be accessed at

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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