A New Solution for Online Gambling Companies with Eric Frank, CEO, Odds On Compliance
Las Vegas Sands Verdict Should Be Upheld, Lawyer Says
As the Seminole Tribe’s anticipated November 15 online betting “launch” approaches, there has been a flurry of activity in the three lawsuits challenging the online sports betting provisions in the 2021 Seminole Tribal-State...more
The Effect of Canada’s Revised Anti-Money Laundering Rules on Casino Operators - On July 10, 2019, the Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing...more
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued guidance on May 9, 2019, underscoring the application of the Bank Secrecy Act (BSA) and its implementing regulations relating to money...more
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) imposed a civil money penalty of $12 million against a Nevada based casino, CG Technology, L.P. (CGT) for alleged violations of the Bank Secrecy Act...more
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more
FCPA cases typically center on the payment of bribes to obtain or retain business. The bribes paid are usually small in comparison to the profits achieved – the obvious motive for the wrongful conduct. The profits of course...more
Why it matters - FinCEN's $8 million civil money penalty imposed on Caesars Palace for "willful and repeated" violations of the BSA sends a signal that failure to collect and use appropriately identifying information...more
FinCEN has many important responsibilities but one of its more interesting assignments is oversight of anti-money laundering compliance by casinos (and card clubs). Casinos are under increasing scrutiny these days for lax AML...more
In a recent post we described a number of steps taken over the last year by the primary federal regulator for casinos – the Financial Crimes Enforcement Network (FinCEN) – that should cause casino operators to have Title 31...more
Why it matters - Three Financial Crimes Enforcement Network (FinCEN) orders, three sets of fines and asset forfeitures, a deferred prosecution agreement and one bank enforcement action demonstrate the resolve of the...more
Executives of regulated entities often lament that fulfilling compliance obligations interferes with their ability to operate their business. However, an extensive (and extended) regulator investigation with the potential for...more
In This Issue: - THE MASSACHUSETTS MUDDLE: WHAT DOES IT MEAN FOR THE MASHPEE WAMPANOAG? The Mashpee Wampanoag casino project planned for the town of Taunton in southeastern Massachusetts received a major...more
On Friday, March 1, 2013, the parent company of the Las Vegas Sands Corp. (Sands), reported in a filing to the Securities and Exchange Commission (SEC) that the company may have violated the “books and records and internal...more