As of January 1, 2017 New York’s Department of Financial Services (DFS) required regulated institutions to certify that their compliance technology is in compliance with AML/BSA regulations. The first certification of compliance was due April 16, 2018 and required certifications covering the prior calendar year are due by April 15 of each year.

You might be surprised to hear this, but financial institutions fall into three buckets regarding DFS 504: those that have certified, those that have certified and noted a need for improvement, and those that have not filed at all.

Whichever bucket you’re in, we provide a tailored service and full gap assessment to help meet these specialized regulatory requirements. Unlike other firms, we are confident enough in our assessments to legally vouch for your certification, and join your meetings with DFS as these findings are reviewed.