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New York Department of Financial Services Part 504

In an effort to comply with the requirements, many bank managers are currently assessing their programs and struggling with identifying a solution to comply with the regulation.

A Practical Approach to Compliance

They are concerned with the looming certification date in 2018 and the inability to provide their senior management with the appropriate level of transparency to be able to certify the program

Complying with the NYDFS Part 504 rules is more than just a box-ticking exercise. In addition to assessing and remediating the gaps, we help banks develop a sustainable program that will give senior management a level of confidence when certifying the AML program.

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Learn More About our other Anti-Money Laundering Services

Assessing the Anti-Money Laundering Program

NYDFS expects that Banks conduct an end-to-end test of the Transaction Monitoring and Filtering Program to ensure alignment with the defined risks and the evolving regulatory landscape. We have a unique approach to testing the anti-money laundering program.

Building a Sustainable Program

Maintaining compliance with regulation requires a centralized risk management tool that integrates multiple data sources, streamlines the processes, manages accountability, and provides management oversight to continually optimize compliance.