The USA Patriot Act
Commonly known as the Patriot Act
The USA PATRIOT Act is an Act of the U.S. Congress that was signed into law by President George W. Bush on October 26, 2001. The title of the act is a ten letter backronym (USA PATRIOT) that stands for Uniting (and) Strengthening America (by) Providing Appropriate Tools Required (to) Intercept (and) Obstruct Terrorism Act of 2001.
The act, as a response to the terrorist attacks of September 11th, significantly reduced restrictions in law enforcement agencies' gathering of intelligence within the United States; expanded the Secretary of the Treasury’s authority to regulate financial transactions, particularly those involving foreign individuals and entities; and broadened the discretion of law enforcement and immigration authorities in detaining and deporting immigrants suspected of terrorism-related acts. The act also expanded the definition of terrorism to include domestic terrorism, thus enlarging the number of activities to which the USA PATRIOT Act’s expanded law enforcement powers can be applied.
What does this mean to you?
With our tremendous growth, it is nearly impossible to know every one of our members. We also have some new faces in our office who may not have had a chance to meet you yet. So please understand when he or she asks for proof of identity. For your protection and our security, federal law requires us to verify your identity before transacting your business. Therefore, you may be asked to provide your social security number or other proof of identity. With your cooperation, we can ensure that your funds are secure.
