USA PATRIOT Act: Anti-Money Laundering Provisions

Instructions:

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question 1 of 3

The triggering event that led to the passing of the USA Patriot Act and Title III of the act was _____:

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1. The primary purpose of the Bank Secrecy Act of 1970 is to _____:

2. A government agency run by the Department of the Treasury whose role is to prosecute criminals involved in illegal financial activity and to prevent money laundering is called _____:

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About This Quiz & Worksheet

Quiz yourself on the Patriot Act and its anti-money laundering provisions with these assessments. Topics include the event that led to the passage of the U.S. Patriot Act and the reason for the Bank Secrecy Act of 1970.

Quiz & Worksheet Goals

You'll be quizzed on these subjects:

  • Federal agency under the Department of the Treasury who prosecutes criminals involved in illegal financial activity through money laundering
  • Form/report a financial institution is required to submit in response to a questionable transaction
  • Requirements by Title III of the Patriot Act for the basic features of an anti-money laundering program

Skills Practiced

  • Reading comprehension - make sure you understand the most important information about the anti-money laundering provisions in the USA Patriot Act, including the reason for the passage of this legislation
  • Knowledge application - use your knowledge to answer questions about the requirements of Title III in the Patriot Act that define anti-money laundering programs and the governmental agency at the Department of the Treasury who is responsible for prosecuting criminals who engage in money laundering
  • Information recall - access the knowledge you've gained regarding the purpose of the Bank Secrecy Act of 1970

Additional Learning

You can learn more about money laundering and the laws designed to prevent it in the lesson named USA PATRIOT Act: Anti-Money Laundering Provisions. These topics will be explored in greater detail:

  • Cooperation among law enforcement officials in pursuing terrorists
  • Different types of financial institutions involved with anti-money laundering programs
  • Importance of communicating with government agencies
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