At the National AML Conference in Las Vegas, Nevada, representatives from the US Department Of Justice and the Financial Crimes Enforcement Network sent a warning to casino operators and financial institutions.
US.- During the National AML Conference in Nevada, representatives from the United States Department Of Justice and the Financial Crimes Enforcement Network (FinCEN) sent a strong message on money laundering to casino operators and financial institutions.
“Make no mistake, the [United States] Department Of Justice will pursue criminal charges and penalties against any financial institution including casinos and card clubs that willfully violate the Bank Secrecy Act,” declared Deborah Conner, Asset Forfeiture Money Laundering Section Principal Deputy Chief for the United States Department Of Justice.
The Bank Secrecy Act requires financial institutions including casinos in the United States to fully assist government agencies in the detection and prevention of money laundering and Conner explained that compliance is fundamental to protecting the security and integrity of the financial system.
The ninth annual National AML Conference from online learning and professional educational provider Casino Essentials was attended by a wide selection of over 350 gaming executives, regulators and attorneys.
“Our conference program provides a unique environment where casinos can openly discuss their compliance challenges as a community,” said Mindy Letourneau, Managing Director for San Diego-based Casino Essentials. “Here participants interact directly with government regulators and federal law enforcement agencies to find solutions that can benefit the industry.”