USA Patriot Act

USA Patriot Act definition - finance
A law that was passed after the terrorist attacks of Sept. 11. The aspect of the law most relevant to finance is its requirement that banks, mutual funds, brokerage firms, and other financial institutions verify the identity of clients and ensure that accounts arenÂ’t being used for money-laundering purposes.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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