ABA Banking Journal, American Banker’s Association’s Official Monthly Magazine Since 1908, Named Media Sponsor for GKC’s The Patriot Act & AML Teleconference
New York, NY, May 23, 2006 --(PR.com)-- The Global Knowledge Congress, the leading producer of regulatory focused teleconferences, has announced today that ABA Banking Journal, the official monthly magazine of the American Bankers Association since 1908, will be a media sponsor for the upcoming teleconference on The Patriot Act and Anti-Money Laundering scheduled for June 20, 2006 at 11:00 AM EDT.
The Patriot Act was formed in response to the terrorist attacks against the U.S. on September 11, 2001. This legislation dramatically expanded the authority of U.S. law enforcement for the stated purpose of fighting terrorist acts in the United States and abroad, and implemented long anticipated changes to the Bank Secrecy Act. The impact of these changes has been far-reaching and has increased the depth, breadth, and scope of AML/CFT compliance for all financial businesses including banks, bank holding companies, mutual funds, asset managers, hedge funds, insurance companies, and money service businesses. The USA PATRIOT ACT Title III made 52 amendments to the Bank Secrecy Act alone, and reshaped whole sections of the Code of Federal Regulations. The new regulations are forcing unprecedented increases in software, operational, and independent auditing expenses. Compliance is challenging and the costs for not effecting a balanced and transparent AML/CFT system is high. Some major financial institutions have paid record fines (in excess of $50 million) for AML non-compliance. It is clear that the long-standing financial definitions have changed and expanded to include these new elements. The Global Knowledge Congress has scheduled a teleconference for Tuesday, June 20 at 11:00 a.m. (EST) to analyze this critical legislation.
About ABA Banking Journal
ABA Banking Journal helps bankers become more profitable, competitive and efficient. As the official monthly magazine of the American bankers Association since 1908, every month ABA Banking Journal provides entrée to banking's inner circles, and unrivaled access to the developments and behind-the-scenes information that are shaping and reshaping the banking industry. Free subscriptions are available for US commercial and saving bank executives. Go to www.ababj.com and click the subscription link. Others may use this link for money-savings subscription offers.
For questions concerning editorial or advertising, please contact the publisher, Gus Blumberg at gblumberg@sbpub.com.
For more information about ABA Banking Journal, please visit: www.ababj.com
About The Global Knowledge Congress
The Global Knowledge Congress is an organization, which produces teleconferences that examine regulatory changes and business trends across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour teleconferences to study the impact of changing regulations and industry trends.” To contact, please visit: http://www.knowledgecongress.org
Thomas LaPointe, Jr., Executive Director
tlapointe@knowledgecongress.org
Therese Lumbao, Member Services Director
tlumbao@knowledgecongress.org
The Global Knowledge Congress
Phone: 646.202.9344
Fax: 646.219.5381
http://www.knowledgecongress.org
###
The Patriot Act was formed in response to the terrorist attacks against the U.S. on September 11, 2001. This legislation dramatically expanded the authority of U.S. law enforcement for the stated purpose of fighting terrorist acts in the United States and abroad, and implemented long anticipated changes to the Bank Secrecy Act. The impact of these changes has been far-reaching and has increased the depth, breadth, and scope of AML/CFT compliance for all financial businesses including banks, bank holding companies, mutual funds, asset managers, hedge funds, insurance companies, and money service businesses. The USA PATRIOT ACT Title III made 52 amendments to the Bank Secrecy Act alone, and reshaped whole sections of the Code of Federal Regulations. The new regulations are forcing unprecedented increases in software, operational, and independent auditing expenses. Compliance is challenging and the costs for not effecting a balanced and transparent AML/CFT system is high. Some major financial institutions have paid record fines (in excess of $50 million) for AML non-compliance. It is clear that the long-standing financial definitions have changed and expanded to include these new elements. The Global Knowledge Congress has scheduled a teleconference for Tuesday, June 20 at 11:00 a.m. (EST) to analyze this critical legislation.
About ABA Banking Journal
ABA Banking Journal helps bankers become more profitable, competitive and efficient. As the official monthly magazine of the American bankers Association since 1908, every month ABA Banking Journal provides entrée to banking's inner circles, and unrivaled access to the developments and behind-the-scenes information that are shaping and reshaping the banking industry. Free subscriptions are available for US commercial and saving bank executives. Go to www.ababj.com and click the subscription link. Others may use this link for money-savings subscription offers.
For questions concerning editorial or advertising, please contact the publisher, Gus Blumberg at gblumberg@sbpub.com.
For more information about ABA Banking Journal, please visit: www.ababj.com
About The Global Knowledge Congress
The Global Knowledge Congress is an organization, which produces teleconferences that examine regulatory changes and business trends across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour teleconferences to study the impact of changing regulations and industry trends.” To contact, please visit: http://www.knowledgecongress.org
Thomas LaPointe, Jr., Executive Director
tlapointe@knowledgecongress.org
Therese Lumbao, Member Services Director
tlumbao@knowledgecongress.org
The Global Knowledge Congress
Phone: 646.202.9344
Fax: 646.219.5381
http://www.knowledgecongress.org
###
Contact
The Global Knowledge Congress
Thomas LaPointe, Jr., Executive Director
646-202-9344
www.knowledgecongress.org
Therese Lumbao
Director, Account Management & Member Services
tlumbao@knowledgecongress.org
Thomas LaPointe, Jr., Executive Director
646-202-9344
www.knowledgecongress.org
Therese Lumbao
Director, Account Management & Member Services
tlumbao@knowledgecongress.org
Contact
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