Security

Pressure on the gambling industry has intensified over the past year as the head of a US Treasury agency that monitors the financial system for evidence of money laundering gave two speeches reminding the casino industry of its compliance obligations.  Jennifer Shasky Calvery, who has led the agency – called the Financial Crimes Enforcement Network, or FinCEN – since September 2012, has a background in prosecuting organised crime.   “Banks that do business with casinos would be wise to pay attention to what the FinCEN director is talking about,” said Kevin Rosenberg, a former federal prosecutor in Los Angeles. “Banks are years ahead of casinos when it comes to anti-money-laundering compliance. Now it’s the casinos’ turn to step up.” In addition to regulators’ own actions, bank examiners are pressing institutions they oversee to better manage the risk associated with the casino-related transactions they process, compliance officers in both industries said.








Public Gaming /Paul Jason - pjason@publicgaming.com   / Susan Jason - sjason@publicgaming.com  /Office Phone - + 425-449-3000  
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