The US federal Financial Crimes Enforcement Network (FinCEN) said Caesars Palace in Las Vegas agreed to pay an $8m civil money penalty for its “willful and repeated violations” of the Bank Secrecy Act.
In addition, the casino agreed to conduct periodic external audits and independent testing of its anti-money laundering compliance programme, report to FinCEN on mandated improvements, adopt a rigorous training regime and engage in a “look-back” for suspicious transactions.
FinCEN said the casino allowed a blind spot to exist in private gaming salons, where high rollers were able to gamble millions of dollars in a single visit and which allowed patrons to gamble anonymously.
