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Banking and Finance Law

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Western New England University School of Law

2003

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Bringing Out The Big Guns: The Usa Patriot Act, Money Laundering, And The War On Terrorism, Eric J. Gouvin Jan 2003

Bringing Out The Big Guns: The Usa Patriot Act, Money Laundering, And The War On Terrorism, Eric J. Gouvin

Faculty Scholarship

This Article addresses the question of whether the money laundering provisions in the Patriot Act will be effective tools in the effort to intercept terrorist financing to prevent future attacks like those suffered on September 11, 2001, or whether the legislation is instead the modern equivalent of a big noisy anti-aircraft gun -- psychologically useful for showing that something is being done, but not very effective in actually doing the task. This Article concludes that the Act's money laundering provisions will not be effective in intercepting terrorist financing. It reaches that conclusion after examining the current state of United States …