Regulator Wants Execs to Attest to Money-Laundering Controls

From: CFO

New York’s Benjamin Lawsky plans to turn up the heat on banks through random audits and targeted assessments of cyber-security preparedness.

Seeking to beef up prevention of money laundering, New York’s top banking regulator has proposed requiring bank executives to personally attest to the adequacy of their money-laundering controls.

Benjamin M. Lawsky, New York’s superintendent of Financial Services, said in a speech Wednesday at Columbia Law School that his office is considering a number of proposals to address not only money laundering but also cyber attacks on banks.

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One response to “Regulator Wants Execs to Attest to Money-Laundering Controls”

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