NEW YORK’S FINANCIAL SERVICES DEPARTMENT INSISTS ON AML/CFT MONTORING AND SCREENING
June 1st, 2016
The New York State Department of Financial Services (DFS) has released its anticipated control regime designed to make sure financial businesses operating from the USA’s main financial centre prevent money laundering and terrorist finance. Its new rule, which comes into force on January 1 (2017) will cover banks, trust companies, private bankers, savings banks, and savings and loan associations, plus all branches and agencies of foreign banking corporations, licensed to operate in New York. It will also cover cheque cashers and money transmitters.
These ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.