Casino employee fined by FinCEN over anti-money laundering compliance issues

By Christine Duhaime | August 21st, 2014

The Financial Crimes Enforcement Network (“FinCEN“) has fined a former manger of a US casino over anti-money laundering compliance violations. According to the Wall Street Journal, George Que, a former manger of VIP services at Tinian Dynasty Hotel & Casino, assisted high rollers at the casino to gamble outside of the Bank Secrecy Act reporting regime by agreeing not to file suspicious activity reports and currency transaction reports for the players.

During an undercover operation, Mr. Que allegedly promised a representative of a Russian businessman that if his client brought large amounts of cash to the casino, he wouldn’t file money laundering reports.

According to the Wall Street Journal, FinCEN has stated that it plans to focus its attention on the casino industry and registered gaming employees who fail to undertake the requisite anti-money laundering compliance obligations. In casinos in the US that involves, inter alia, reporting suspicious activity, terrorist financing activity and currency transaction reports; having an adequate compliance regime in place with an appointed qualified compliance officer; and providing training on the requirements of the BSA.

Comments are closed.