Patriot Act Research Paper

Introduction

If one takes the approach that terror can be a means of achieving political goals, one can therefore argue that the crimes of terrorism and money laundering are indeed distinctive in their nature. Nonetheless, in agreement with Dr. Mugarura in his PhD thesis, it can be stated that the distinction between both have been submerged since money launderers, narcotic drug dealers, and terrorists have established partnerships to use terror as a means of achieving their objectives. For this very reason, terrorists utilize typical money laundering methods to move money around and integrate it into the financial system.

For the past 14 years anti-money laundering policies have been augmented by measures adopted in order to prevent the

It was rushed as a credible answer to the terrorist attacks perpetrated against America in 2001 and its main objective is to prevent, identify and prosecute acts of terrorism by providing appropriate tools required to intercept and obstruct these acts. The Patriot Act delivers specific methods for the prosecution of terrorism financing and money laundering. It allows for more severe AML requirements on institutions, types of transactions and on jurisdictions. All of these requirements were established in response to the ever evolving money laundering typologies. Sections 313, 314 and 326 are the ones, which are specially aimed at preventing the financing of terrorism and identifying the parties involved in such actions. Title III of the Patriot Act is the International Money Laundering Abatement and Financial Anti-Terror Act 2001. Title III of the Act amended the Bank Secrecy Act 1970 and the Money Laundering Control Act 1986, and enhanced the former AML processes, both in the latitude of its application and in the rigor of its

Clients have their individuals’ rights for privacy thwarted in a way that although the release of customer’s information is to be used for the identification of possible terrorists, there is no impediment that the very information is actually utilized for other reasons, including nefarious ones. This Act fundamentally ignores some of important privacy laws and gives to the American government unprecedented surveillance powers in regards to eavesdropping in order to gather intelligence and to enforce laws. While it is clear that the balance of power has shifted towards law enforcement , it is also clear that the surveillance does not end within districts or township libraries. Quite the contrary it has reached ones’ residential doorways and this can indeed damage the reputation of the United States as the leader of human