DFS ISSUES FINAL ANTI-TERRORISM TRANSACTION MONITORING AND FILTERING PROGRAM REGULATION

DFS ISSUES FINAL ANTI-TERRORISM TRANSACTION MONITORING AND FILTERING PROGRAM REGULATION

DFS ISSUES FINAL ANTI-TERRORISM TRANSACTION MONITORING AND FILTERING PROGRAM REGULATION

Financial Services Superintendent Maria T. Vullo today announced that the Department of Financial Services (DFS) has adopted a risk-based anti-terrorism and anti-money laundering regulation that requires regulated institutions to maintain programs to monitor and filter transactions for potential Bank Secrecy Act (BSA) and anti-money laundering (AML) violations and prevent transactions with sanctioned entities. The final regulation requires regulated institutions annually to submit a board resolution or senior officer compliance finding confirming steps taken to ascertain compliance with the regulation.

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