Regulators Issue Patriot Act Bulletin
NU Online News Service, April 11, 10:19 a.m. EST?The National Association of Insurance Commissioners has approved a bulletin alerting insurance companies to their responsibilities to prevent money laundering under the new USA Patriot Act.
The federal statute, formally titled the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, was enacted in response to the terrorist attacks of Sept. 11, noted NAIC President and Iowa Insurance Commissioner Terri Vaughan.
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