May 23rd, 2024 –Washington, DC. – Greystones Group, provider of innovative technical solutions for the United States military and federal government, announced it has teamed up with Voyatek in a significant move to bolster the Internal Revenue Service’s capabilities in combating money laundering and ensuring compliance with the Bank Secrecy Act (BSA).
The BSA, a cornerstone legislation in the fight against financial crimes, mandates financial institutions to assist U.S. government agencies in detecting and preventing money laundering. Compliance with the BSA includes maintaining proper records, filing reports on certain transactions, and implementing effective anti-money laundering (AML) programs. Together, Greystones and Voyatek will develop advanced tools and systems to identify potential weaknesses in Money Services Businesses (MSBs) efforts to adhere to BSA requirements, thereby enhancing the integrity of the financial system.
“Our partnership with Voyatek underscores our commitment to leveraging technology in safeguarding the financial system from illicit activities,” said John Mark Suhy, CTO of Greystones Group. “By providing the IRS with cutting-edge tools, we aim to enhance their exam, audit and enforcement capabilities, ensuring that MSBs fully comply with the BSA requirements.”
This initiative will facilitate the IRS in pinpointing non-compliance, while also serving an educational purpose by guiding MSBs on how to fortify their systems and procedures in line with the BSA. The collaboration between Greystones and Voyatek represents a pivotal step towards promoting national security and preventing financial crimes.
“Together with Greystones, we are committed to enhancing the effectiveness of combating money laundering and other related financial crimes.” said Mike Stavrianos, Tax & Revenue Industry Lead, Voyatek. “The development of these tools underscores the importance of public-private partnerships in addressing complex challenges such as money laundering and terrorism financing. By combining Greystones Group’s technological expertise with Voyatek’s experience in government solutions, this partnership is set to significantly contribute to the nation’s financial security.”
About Greystones:
Greystones is a certified WOSB headquartered in Washington DC. Greystones is proud to support our Nation’s Defense and Critical Infrastructure Agencies by providing mission-focused solutions and services that ensure mission success. We provide proven Artificial Intelligence and Machine Learning solutions for mission critical systems to reduce operators’ cognitive load, and allow for better, faster decisions. For more information, visit www.greystonesgroup.com.
About Voyatek:
Voyatek delivers outcome-driven technology solutions public sector agencies and higher education institutions nationwide. With a focus on Tax & Revenue, Health & Human Services, and Justice & Public Safety, Voyatek combines the scale to support large complex projects with the agility and accessibility of a boutique solutions provider. Together, Voyatek and its customers work to improve population wellbeing, create safer communities, and foster a thriving economy. For more information, visit www.voyatek.com.
Media Contact
Maria Bradley
Greystones Group
415-509-0498
Mbradley@greystonesgroup.com
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