Pursuant to an appointment by the New York State Department of Financial Services (DFS), Guidepost Solutions works under an Independent Consultant to monitor and address the Bank’s compliance relating to anti-money laundering (AML) and sanctions regulations. Our team, led by our CEO, reviewed the Bank’s sanctions and anti-money laundering programs, procedures and software programs; provided recommendations for software improvements and procedures; and utilized data analytics to improve OFAC filter rates as well as to identify potential money-laundering issues. Additionally, we supported the consultant in overseeing DFS’s suspension of U.S. dollar clearing for specific Bank locations and products. Both portions of the assignment involved extensive work to resolve cross-border banking violations and bank secrecy issues.
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