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Oh Craps: Caesar’s Palace Fined $8M for Lax AML Controls

Joe Mont | September 8, 2015

The ownership of Las Vegas casino Caesars Palace has agreed to  pay an $8 million civil money penalty for “willful and repeated violations of the Bank Secrecy Act,” the Treasury Department’s Financial Crimes Enforcement Network announced on Monday. The casino also agreed to conduct periodic external audits and independent testing of its anti-money laundering compliance program, report on mandated improvements, adopt a rigorous training regime, and engage in a “look-back” for suspicious transactions.

According to FinCEN, Caesars “allowed a blind spot to exist in its compliance program” with private gaming salons that allowed wealthy clientele to anonymously gamble millions of dollars in a single visit. These patrons were allowed to conceal their identity and play...

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