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Question 76/189

Bank A is a non-United States (U.S.) bank that has $5 million in a correspondent account at a bank in New York City. The Worldwide Terrorist Syndicate (WTS) has $1 million in its account at a non-US branch of Bank A.
The U.S. government has initiated forfeiture action against the WTS.
Which potential action can the U.S. take under the USA PATRIOT ACT pursuant to the issuance seizure warrant?

A. Seize $1 million from Bank A's correspondent account in the U.S.

B. Seize $5 million from the non-U.S. branch of Bank A where the WTS' account is located.

C. Seize Bank A's $5 million correspondent account in the U.S.

D. Seize WTS' $1 million account at the non-U.S. branch of Bank A.

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UMMER FAROOK - Aug 08, 2024

Answer is A

Jas - Jun 24, 2023

should be A
Section 319(a): Forfeiture from US correspondent account (18 U.S.C. 981(k)).
In situations in which funds have been deposited with a foreign bank, this section permits the US government to seize funds in the 【same amount】 from a correspondent bank account in the United States that has been opened and maintained for the foreign bank.

ZW - Mar 13, 2022

Ans shld A under Patriot Action Section 319A where authorities can seize the fund of the same amount of the account in the US

Question 76/189

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