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To view this page ensure that Adobe Flash Player version 9.0.124 or greater is installed. Besides prospective charter and lease customers, the screening of prospective aircraft purchasers can serve as an important deterrent to prevent terrorists or organizations that support terrorism from acquiring aircraft that could be used in a terrorist attack. Under Department of the Treasury regulations, promulgated to meet requirements of the USA PATRIOT Act (P.L. 107-56), aircraft sales must comply with various information sharing, reporting, and records keeping requirements aimed at identifying suspicious transactions and preventing money laundering.70 However, because many other large-scale financial transactions such as the sale of houses, boats, and cars must be similarly reported, the volume of transactions may make it difficult to quickly identify suspicious aircraft transactions. The main intent of these regulations is to spot potential attempts to launder illegal funds in support of terrorist or criminal activities, and therefore the regulations are not specifically designed to vet purchasers of GA aircraft against terrorist watch lists. The capability to detect 69 See CRS Report RL32802, Homeland Security: Air Passenger Prescreening and Counterterrorism, by Bart Elias, William Krouse, and Ed Rappaport. 70 See Title 31 Code of Federal Regulations, Part 103. aircraft sales to suspected terrorists or their associates and vet aircraft purchasers against terrorist watch lists under these reporting requirements remains unclear. Physical Security Measures for Airports |
