U.S. Department of the Treasury

(Archived Content)

FROM THE OFFICE OF PUBLIC AFFAIRS

The Department of the Treasury, the Financial Crimes Enforcement Network, and the seven federal financial regulators today issued final rules under section 326 of the USA PATRIOT Act that require certain financial institutions to establish procedures to verify the identity of new accountholders.  Treasury General Counsel David Aufhauser, Financial Crimes Enforcement Network Director James Sloan, and other officials will provide a briefing this morning at 11:30 am in the Secretarys large conference room in the Treasury Building.

WHAT: Briefing on final rule Implementing Sec. 326 of the PATRIOT Act
WHEN:  11:30 AM
WHERE:  Secretarys Large Conference Room (Rm. 3327)
PARTICIPANTS: David Aufhauser, General Counsel
  James Sloan, Director, Financial Crimes Enforcement Network
  Other officials
COVERAGE: Pen and paper only

These regulations are part of the Administrations continuing work to implement the USA Patriot Act and prevent money laundering, terrorist financing, identity theft, and other forms of fraud while also providing financial institutions the flexibility they need to effectively implement the rules.

 Media without Treasury or White House press credentials planning to attend should contact Treasurys Office of Public Affairs at (202) 622-2960 with the following information: name, social security number and date of birth. This information may also be faxed to (202) 622-2960.