Patriot Act Point of Pain: Reference Data
COMPLIANCE
The financial industry is expected to spend more than $10 billion to comply with the Patriot Act over the next three years. And at the heart of the issue is the data.
Publicly, firms have been quick to throw their support behind the USA Patriot Act. Following Sept.11, no one, of course, wants to appear unpatriotic. But privately, firms are beginning to complain that implementing measures to comply with the act is no easy feat, especially given the speed in which firms are expected to undertake it
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