LexisNexis and Morrison & Foerster to Conduct Web Seminar on USA PATRIOT Act and Risk Compliance Issues

BOCA RATON, FL – LexisNexis®, a leading provider of legal, news, business information and risk management services, will conduct an educational Web seminar on September 13, 2005 in conjunction with Morrison & Foerster LLP. The seminar, which covers Customer Identification Program requirements in the financial services industry, addresses Section 326 of the USA PATRIOT Act, related bank examinations procedures, Office of Foreign Assets Control (OFAC) nuts and bolts, and other Bank Secrecy Act/Anti Money Laundering (BSA/AML) identity theft compliance issues.

Thomas M. Regan, executive director for privacy and regulatory affairs at LexisNexis, will join other leading experts in a discussion of federal agency guidance and exam procedures and the compliance requirements for Customer Identification Programs and other procedures for protecting against terrorism financing, money laundering and identity theft. The interactive event is expected to attract participants across the country and will raise industry awareness on a number of credit services and risk management issues.

According to Tom Brown, vice president, market planning – financial services at LexisNexis, “It is critical that we continue to help educate the industry about how to protect businesses and institutions from identity theft. This Web seminar illustrates our ongoing commitment of providing the financial services industry with a trusted, safe and transparent marketplace. As an industry leader, LexisNexis professionals boast a tremendous amount of knowledge and can help lead the effort towards a safer commercial landscape.”

“The financial services community should be made aware of the advanced tactics being used by fraudsters and identity thieves,” said L. Richard Fischer, Partner, Morrison & Foerster LLP, and a member of the seminar’s expert panel. “This seminar will help keep the integrity of the financial services industry from being compromised by providing critical education and awareness that can be used to protect these important institutions.”

The seminar will address the legal framework for Customer Identification Programs (CIPs) and the political environment in which they operate. It will also discuss the Federal agency CIP guidance and examination procedures, and how they impact the CIP compliance efforts of financial institutions. Participants will gain a further understanding of the interplay of CIP requirements and other BSA/AML rules, as well as an overview of other identity theft prevention initiatives.

Joining Regan and Fischer on the seminar will be Oliver I. Ireland, Partner, Morrison & Foerster LLP, and Panagiotis C. Bayz, Of Counsel, Morrison & Foerster LLP. Interested professionals may register for the seminar at www.lexisnexis.com/bsawebinar.