3 CRR-NY 504.2NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 3. BANKING
CHAPTER III. SUPERINTENDENT'S REGULATIONS
SUBCHAPTER C. GENERAL REGULATIONS—BANKING AND NON-BANKING ORGANIZATIONS
PART 504. BANKING DIVISION TRANSACTION MONITORING AND FILTERING PROGRAM REQUIREMENTS AND CERTIFICATIONS
3 CRR-NY 504.2
3 CRR-NY 504.2
504.2 Definitions.
The following definitions apply in this Part:
(a) Annual board resolution or senior officer compliance finding means a board resolution or senior officer(s) finding in the form set forth in section 504.7 of this Title.
(b) Bank regulated institutions means all banks, trust companies, private bankers, savings banks, and savings and loan associations chartered pursuant to the New York Banking Law (the Banking Law) and all branches and agencies of foreign banking corporations licensed pursuant to the Banking Law to conduct banking operations in New York.
(c) Board of directors means the governing board of every regulated institution or the functional equivalent if the regulated institution does not have a board of directors.
(d) Nonbank regulated institutions shall mean all check cashers and money transmitters licensed pursuant to the Banking Law.
(e) Regulated institutions means all bank regulated institutions and all nonbank regulated institutions.
(f) Risk assessment means an on-going comprehensive risk assessment, including an enterprise wide BSA/AML risk assessment, that takes into account the institution’s size, staffing, governance, businesses, services, products, operations, customers, counterparties, other relations and their locations, as well as the geographies and locations of its operations and business relations.
(g) Senior officer(s) shall mean the senior individual or individuals responsible for the management, operations, compliance and/or risk of a regulated institution including a branch or agency of a foreign banking organization subject to this Part.
(h) Suspicious activity reporting means a report required pursuant to 31 U.S.C. section 5311 et seq. that identifies suspicious or potentially suspicious or illegal activities.
(i) Transaction Monitoring Program means a program that includes the attributes specified in section 504.3(a), (c) and (d) of this Part.
(j) Filtering Program means a program that includes the attributes specified in section 504.3(b), (c) and (d) of this Part.
(k) Transaction Monitoring and Filtering Program means a Transaction Monitoring Program, and a Filtering Program, collectively.
3 CRR-NY 504.2
Current through March 31, 2022
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.