This announcement follows the launch of the new Anti-Money Laundering and Countering the Financing of Terrorism (AML\/CFT) Compliance Unit<\/strong> just days ago, on August 15. The unit is a partnership between the NLA and the Financial Intelligence Agency (FIA), Liberia\u2019s central authority for financial intelligence <\/strong>and AML\/CFT oversight<\/strong>.<\/p>\n\n\n\n The unit recently held a high-level follow-up meeting to reinforce compliance across the country\u2019s gaming sector. FIA Officer-in-Charge Mohammed Nasser<\/strong> stressed that formal boards of directors must be established for all operators, and these boards must appoint independent compliance managers tasked with full oversight responsibilities.<\/p>\n\n\n\n \u201cAll gaming entities must disclose their ultimate beneficial owners<\/strong> to prevent anonymity in financial dealings,\u201d Nasser said, highlighting the government\u2019s zero-tolerance approach to hidden ownership and illicit financial activity.<\/p>\n\n\n\n Reinforcing the FIA\u2019s critical role in monitoring and safeguarding the sector, Nasser added: \u201cTransactions exceeding designated monetary thresholds must be reported to the FIA to ensure greater scrutiny of large cash movements.\u201d <\/p>\n\n\n\n The meeting outlined a sweeping set of regulatory reforms<\/strong> poised to reshape Liberia\u2019s gaming landscape. These include Corporate Governance and Risk Management guidelines, Customer Due Diligence requirements, fit-and-proper assessments for licensing and risk-based compliance programs tailored to each operator\u2019s profile and exposure to money laundering risks<\/strong>.<\/p>\n\n\n\n Attendees included NLA Director General Hon. Peter Solo and Deputy Director General for Lotto Games and Chair of the NLA AML\/CFT Compliance Unit Hon. Richlue Burphy. The discussions focused on strengthening collaboration<\/strong> between the NLA and FIA, with joint training, coordinated inspections and streamlined information-sharing protocols planned to identify and address suspicious activities<\/strong>.<\/p>\n\n\n\n Solo described the renewed focus on AML\/CFT compliance as \u201ca transformational achievement for Liberia\u2019s gaming sector\u201d. He said that enforcing robust regulatory standards<\/strong> and promoting transparency will ensure operators cannot be exploited for illicit financial activity.<\/p>\n\n\n\n This move comes after the FIA carried out risk-based inspections from September to December 2024, which uncovered weaknesses in how licensed operators were meeting AML\/CFT compliance requirements.<\/p>\n\n\n\n The FIA recently fined two casinos<\/strong> for serious AML\/CFT breaches. 50\/50 Casino Inc. was fined L$6m, while Colony Casino was hit with a L$10m penalty, both for failing to implement proper compliance programs, appoint compliance officers and monitor suspicious transactions.<\/p>\n\n\n\n The launch of the Compliance Unit marks a historic step in safeguarding Liberia\u2019s gaming industry<\/strong>. The unit is tasked with monitoring operators, ensuring compliance and collaborating closely with the FIA to protect the sector from financial crime.<\/p>\n\n\nTransformational casino compliance achievement<\/h2>\n\n\n\n
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