Freedom

In War On Terrorism, Feds Draft Businesses to be On Guard

SAN JOSE, Calif. -- It may surprise some people to learn that one of the linchpins in this nation's war on terrorism is the Bin & Barrel Mini Mart in Fremont, Calif. Under federal rules still being fine-tuned, she discovered, the Bin & Barrel — like thousands of other businesses — must have a written plan for foiling money-laundering terrorists. It also must have a "compliance officer" to ensure the plan is heeded, train its employees to spot shady transactions and regularly audit its own performance. That's not all. While not widely known, the Bin & Barrel and every other U.S. business must steer clear of people on the government's 192-page list of "specially designated nationals," which has more than 5,000 names and is updated frequently. Otherwise, business people could face huge fines and a long stay in prison. Posted by Editor at December 29, 2004 09:52 AM