Over the years, insurers have faced criticism for their lack of data integration and customer relationship management (CRM) capabilities. This deficiency took on an added dimension with the passage last October of the USA PATRIOT Act.The USA PATRIOT Act-an acronym for Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism-is an anti-money-laundering law designed to prevent terrorists from setting up operations in the United States.
Following the September 11 attacks, the U.S. Treasury Department vowed to "take steps to shut down the flow of funds into the coffers of the terrorists-to make it difficult for them to underwrite their training camps, purchase firearms and explosives, and to send money abroad to fund future attacks."
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