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Financial Anti-terrorism Act
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The Financial Anti-Terrorism Act allowed:
  • Criminals to be punished: those who were engaged in illegal money practices

  • Gives procedural guidelines for Federal subpoenas: for records of funds in correspondent bank accounts

  • Federal jurisdiction over foreign Money Launderers and over money laundered through a foreign Bank

  • Required all financial institutions to form an anti-money laundering program


In (Republican, TX).

Shortly after ( October 26 , 2001 ), the Financial Anti-Terrorism Act was combined with the USA Act , to form the USA PATRIOT Act .


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''Note: It is not abbreviated or turned into an acronym for obvious reasons, and therefore shouldn't be referred to as the "FAT Act".'' It has been referred to as "FATA", but it isn't a common term.