Two Liberian casinos hit with hefty fines for non-compliance
The FIA cited violations such as failure to conduct proper customer due diligence, ineffective transaction monitoring and lack of comprehensive risk-based compliance programs.
Liberia.- Liberia’s Financial Intelligence Agency (FIA) has imposed a combined L$16 million (€68,280) fine on two Monrovia gaming establishments, Colony Casino and 50/50 Casino, for breaching the 2021 Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act.
Colony Casino faces a L$10 million (€42,675) penalty, while 50/50 Casino was hit with L$6 million (€25,605) after an inspection conducted by the FIA in October 2024 exposed critical gaps in their systems to detect illicit financial activities.
The FIA, under Officer-in-Charge Hon. Mohammed A. Nasser, cited violations such as failure to conduct proper customer due diligence, ineffective transaction monitoring and lack of comprehensive risk-based compliance programs.
In a letter to Elisa Greaves, 50/50 Casino’s CEO, Nasser wrote: “Given significant inadequacies in AML/CFT controls, risk exposure to money laundering and terrorist financing, and non-compliance with Liberia’s laws, the FIA imposes these fines.”
Colony Casino, owned by Ziang Lizhuang and Daoud Rabani, allegedly lacked an internal AML program and a compliance officer, while 50/50 Casino’s onboarding processes and monitoring systems were deemed ineffective.
According to Liberia’s 2023 GIABA Mutual Evaluation Report and 2021 National Risk Assessment, the country’s gaming sector is at risk of being exploited for money laundering and terrorism financing.
In recent months, the FIA has intensified its enforcement actions against operators that failed to comply with AML/CTF regulations. In May 2025, it issued a fine of L$10 million against Oceano and Riverside for severe violations.
Colony Casino and 50/50 Casino have been ordered to submit detailed action plans by September 1, 2025, and resolve all issues by November 1 or face heightened regulatory action, including the potential revocation of their licences.
