AML and sanctions regulations Archives - Corruption, Crime & Compliance

11 Nov, 2024

Forecasting the 2nd Trump Administration: Translating Initiatives to Enforcement and Compliance Priorities (Part I of III)

As the dust settles on the U.S. Election, companies are quickly analyzing the impact for businesses, federal civil and criminal enforcement priorities and the implications for ethics and compliance. When a new Administration comes into power, change is inevitable and can be far-reaching. Given the change with President Trump’s return to the White House, and in light of several of his stated intentions, companies should...

New York Department of Financial Services Issues New AML and Sanctions Regulations

General

20 Jul, 2016

New York Department of Financial Services Issues New AML and Sanctions Regulations

The New York DFS finalized its new AML and Sanctions screening regulations. Interestingly, the NYDFS backed off its original proposal to require a Chief Compliance Officer to certify to a compliance “finding” that the bank or other covered entities maintain an adequate AML and sanctions compliance program. In its place, the NYDFS regulations require an annual certification from senior management, i.e. those responsible for “management,...