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FinCEN fines Sparks Nugget casino $1 million for AML violations

Jaclyn Jaeger | April 11, 2016

The Financial Crimes Enforcement Network (FinCEN) recently slapped a $1 million civil money penalty on Sparks Nugget casino for willfully violated the anti-money laundering provisions of the Bank Secrecy Act.

Casinos are required to implement and maintain an effective AML program; to maintain records of certain transactions; and to file reports relating to transactions in currency and suspicious transactions. These reports are valuable to law enforcement investigators seeking to follow money trails in order to anticipate or solve crimes. Sparks Nugget egregiously and willfully violated AML program requirements, reporting obligations, and recordkeeping requirements, according to FinCEN.

“Sparks Nugget had a systemic breakdown in its compliance program,” FinCEN Director Jennifer Shasky Calvery said in a statement. “Despite the fact that it hosted convicted embezzlers and had been repeatedly...

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