CCOs - Beware of New York DFS Proposed Legislation

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This white paper summarizes impacts of proposed legislation from the New York State Department of Financial Services (NYDFS) and highlights the critical relationship between data quality and an effective compliance program.

The paper also outlines how the legislation directly affects Compliance Officers by creating a new level of personal accountability for the integrity of an organization’s AML and sanctions compliance programs. It also provides an in-depth illustration of the interdependency between data quality and increased exposure to AML/ Sanctions risk while demonstrating how model validation can help greatly improve the overall efficacy of a compliance program.

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