US PATRIOT Act
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001
The
US PATRIOT Act requires that companies need to verify:
• Customer profiles
• Entities opening commercial accounts are legitimate businesses
• Business names, addresses, and other identifying data are complete, accurate, and up-to-date
• In compliance with the Office of Foreign Asset Control ("OFAC"), customer names do not appear on lists of known or suspected terrorists.
Companies that fail to verify such data may face financial risk, regulatory penalties, and damage to their reputations.
Resources within public companies and private companies are being re-directed to ensure successful compliance due to increasing sensitivity to regulatory compliance such as Sarbanes-Oxley, the PATRIOT Act and FDICIA.
Compliance Services cover:
• implementation of a full-scale compliance program
• assistance enhancing an existing program
• proven risk-based approach
• Sarbanes-Oxley
• PATRIOT Act
• FDICIA
• BSA
• GLBA
As one of the
Best Places to Work in NJ, Amper is one of the largest independent CPA,
accounting,
tax preparation, and
auditing firms in the New Jersey, Pennsylvania and New York region.
 Sarbanes-Oxley
PATRIOT Act
FDICIA
BSA
GLBA
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US PATRIOT Act
Preventing terrorism through compliance
Today's companies are constantly challenged by changes to their regulatory environment. One such critical change which has affected companies is the passing of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, aka the USA PATRIOT Act. This act requires that companies need to verify:
Customer profiles
Entities opening commercial accounts are legitimate businesses;
Business names, addresses, and other identifying data are complete, accurate, and up-to-date; and
In compliance with the Office of Foreign Asset Control ("OFAC"), customer names do not appear on lists of known or suspected terrorists.
Companies that fail to perform and document their verification of such data may
face financial risk, regulatory penalties, and damage to their reputations.
Using a risk-based approach, Amper's professionals are experienced in assisting
clients' design controls that enable them to be in compliance with the provisions
of the USA PATRIOT Act.
Contact: John Pennett
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