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UCBH » Topics » Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001These excerpts taken from the UCBH 10-K filed Mar 16, 2009. Uniting
and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act of
2001
Under Title III of the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act (the “USA PATRIOT Act”) adopted by the
United States Congress on October 26, 2001, which
strengthened the then existing anti-money laundering provisions
of the Bank Secrecy Act, FDIC insured banks are required to
increase their due diligence efforts for correspondent deposit
accounts and private banking customers. The USA PATRIOT Act
requires banks to perform additional record keeping and
reporting, require identification of owners of deposit accounts
and the customers of foreign banks with correspondent deposit
accounts, and restrict or prohibit certain correspondent deposit
accounts. The Financial Crimes Enforcement Network, a bureau of
the Department of Treasury, has also issued regulations to
implement the provisions of the USA PATRIOT Act. UCB’s
regulatory compliance in this important area has been found
satisfactory.
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 Under Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (the “USA PATRIOT Act”) adopted by the United States Congress on October 26, 2001, which strengthened the then existing anti-money laundering provisions of the Bank Secrecy Act, FDIC insured banks are required to increase their due diligence efforts for correspondent deposit accounts and private banking customers. The USA PATRIOT Act requires banks to perform additional record keeping and reporting, require identification of owners of deposit accounts and the customers of foreign banks with correspondent deposit accounts, and restrict or prohibit certain correspondent deposit accounts. The Financial Crimes Enforcement Network, a bureau of the Department of Treasury, has also issued regulations to implement the provisions of the USA PATRIOT Act. UCB’s regulatory compliance in this important area has been found satisfactory. These excerpts taken from the UCBH 10-K filed Feb 29, 2008. Uniting
and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act of
2001
Under Title III of the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act (the “USA PATRIOT Act”) adopted by the
United States Congress on October 26, 2001, which
strengthened the then existing anti-money laundering provisions
of the Bank Secrecy Act, FDIC insured banks are required to
increase their due diligence efforts for correspondent deposit
accounts and private banking customers. The USA PATRIOT Act
requires banks to perform additional record keeping and
reporting, require identification of owners of deposit accounts
and the customers of foreign banks with correspondent deposit
accounts, and restrict or prohibit certain correspondent deposit
accounts. The Financial Crimes Enforcement Network, a bureau of
the Department of Treasury, has also issued regulations to
implement the provisions of the USA PATRIOT Act. UCB’s
regulatory compliance in this important area has been found
satisfactory.
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 Under Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (the “USA PATRIOT Act”) adopted by the United States Congress on October 26, 2001, which strengthened the then existing anti-money laundering provisions of the Bank Secrecy Act, FDIC insured banks are required to increase their due diligence efforts for correspondent deposit accounts and private banking customers. The USA PATRIOT Act requires banks to perform additional record keeping and reporting, require identification of owners of deposit accounts and the customers of foreign banks with correspondent deposit accounts, and restrict or prohibit certain correspondent deposit accounts. The Financial Crimes Enforcement Network, a bureau of the Department of Treasury, has also issued regulations to implement the provisions of the USA PATRIOT Act. UCB’s regulatory compliance in this important area has been found satisfactory. This excerpt taken from the UCBH 10-K filed Mar 1, 2007. Uniting
and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act of
2001
Under Title III of the Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act (the “USA PATRIOT Act”) adopted by the
United States Congress on October 26, 2001, which
strengthened the then existing anti-money laundering provisions
of the Bank Secrecy Act, FDIC insured banks are required to
increase their due diligence efforts for correspondent deposit
accounts and private banking customers. The USA PATRIOT Act
requires banks to perform additional record keeping and
reporting, require identification of owners of deposit accounts
and the customers of foreign banks with correspondent deposit
accounts, and restrict or prohibit certain correspondent deposit
accounts. The Financial
Table of Contents
Crimes Enforcement Network, a bureau of the Department of
Treasury, has also issued regulations to implement the
provisions of the USA PATRIOT Act. UCB’s regulatory
compliance in this important area has been found satisfactory.
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