Citigate Global Intelligence and Greenberg Traurig Host Patriot Act Seminar; Financial Services Firms are Briefed On Preventing Money Laundering by Terrorists.Business Editors NEW YORK--(BUSINESS WIRE)--July 31, 2002 Citigate Global Intelligence & Security ("CGIS CGIS Center for Geographic Information Systems CGIS Center for Government and International Studies (Harvard University) CGIS Coast Guard Investigative Service (US Coast Guard; US Department of Homeland Security) "), and Greenberg Traurig Greenberg Traurig LLP is an international law firm with approximately 1,700 attorneys and governmental professionals in 29 locations in the United States, Europe and Asia. Its presence in Europe is supplemented by strategic alliances with Olswang (offices in London, United Kingdom LLP LLP - Lower Layer Protocol , hosted a briefing today for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. executives entitled "Meeting the Challenges of the USA Patriot Act USA PATRIOT Act [Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorists], 2001, U.S. : Balancing Compliance, Cost and Customer Service." The briefing for operating managers, compliance officers and attorneys provided a practical understanding of the provisions of the Patriot Act Patriot Act: see USA PATRIOT Act. and how to meet these new compliance challenges. The USA Patriot Act, established after 9-11, seeks to prevent terrorists from using U.S. financial firms to launder Launder To move illegally acquired cash through financial systems so that it appears to be legally acquired. money and has effectively expanded the types of institutions that must monitor and report suspicious activity. Additionally, unlike previously enacted anti-money laundering rules, the Patriot Act requires financial institutions to conduct "enhanced due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. " to prevent funds from flowing to those planning to engage in terrorism. For example, under a recently passed provision, banks, broker dealers, futures commissions merchants, mutual funds and state regulated banks will be required to implement new identification procedures for clients and possibly close accounts or suspend relationships with those who do not meet the new standards. Speaker Alan B. Horn, Chair of Greenberg Traurig's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Financial Institutions Practice said: "The spotlight is on financial institutions and regulators like never before. Our clients are going to have to think more from a law-enforcement perspective, implement the proper controls, and test their systems to prevent their services from potentially being used by terrorists." Speaker George Guernsey, head of CGIS Business Intelligence services to financial institutions said: "Executives of financial institutions will need independently-verifiable intelligence on customers, correspondent banks, alliance partners, and intermediaries selling their services in order to comply with the intent of these new rules." The briefing was attended by representatives from a wide variety of financial services firms including asset management firms This is a list of corporations that provide financial asset management.
About Citigate Global Intelligence & Security Citigate Global Intelligence & Security is a global business intelligence, corporate investigations and business controls/security consulting firm focused on helping clients meet increased intelligence and security needs. Founded by former senior executives of Kroll Associates and PricewaterhouseCoopers, CGIS offers clients seamless access to leading practitioners in the fields of business investigations, investigative due diligence, hostile takeovers, business and competitor intelligence, forensic accounting Forensic accounting, sometimes called investigative accounting, involves the application of accounting concepts and techniques to legal problems. Forensic accountants investigate and document financial Fraud and white-collar crimes , business controls, corporate and computer security, and crisis management. CGIS is headquartered in New York with offices in Los Angeles, Boston, Miami, Dallas and Washington, D.C. For additional information about CGIS, visit the firm's web site at www.citigategis.com. About Greenberg Traurig LLP Greenberg Traurig LLP is a full-service law firm that provides integrated solutions to clients worldwide. The firm leads The National Law Journal's 2001 list of five-year growth leaders and is No. 21 on the publication's list of the country's largest law firms. Greenberg Traurig combines legal, business and governmental experience with creativity to secure results for a broad spectrum of clients, ranging from emerging companies to Fortune 500 corporations. Greenberg Traurig has more than 830 attorneys and lobbyists practicing in 17 offices: New York; Miami; Washington, D.C.; Los Angeles; Chicago; Boston; Philadelphia; Atlanta; Phoenix; Denver; Tysons Corner, Va.; Orlando, Fla.; Fort Lauderdale, Fla.; West Palm Beach, Fla.; Boca Raton, Fla.; Tallahassee, Fla.; and Wilmington, Del. For additional information about Greenberg Traurig, visit the firm's web site at www.gtlaw.com. |
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