ACAMS
CAMS · Question #675
CAMS Question #675: Real Exam Question with Answer & Explanation
The correct answer is C. Section 319(b). USA PATRIOT Act Section 319(b) gives the U.S. government the power to seize funds from a U.S. correspondent bank account held for a foreign bank, if the funds are linked to illicit activity. Option C (Correct): Section 319(b) explicitly allows asset forfeiture from foreign corres
Question
Which section of the USA PATRIOT Act relates to forfeiture of funds and allows for extraterritorial reach?
Options
- ASection 319(a)
- BSection 314(a)
- CSection 319(b)
- DSection 314(b)
Explanation
USA PATRIOT Act Section 319(b) gives the U.S. government the power to seize funds from a U.S. correspondent bank account held for a foreign bank, if the funds are linked to illicit activity. Option C (Correct): Section 319(b) explicitly allows asset forfeiture from foreign correspondent bank accounts in the U.S.
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