News & Analysis as of

Risk Management Casinos

Amundsen Davis LLC

Don’t Gamble With Your Cybersecurity and Incident Response Plan: Lessons Learned from the Las Vegas Ransomware Attacks

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Typically, we beat the drum of the need to prepare for a data incident—anything from a full-blown ransomware attack to an employee accidently sharing data with the wrong person—by having your Incident Response Plan developed...more

Pillsbury Winthrop Shaw Pittman LLP

Increasing Markets for Sports Betting Could Lead to Cybersecurity and Data Privacy Risks for Companies and Consumers

Providers of sports betting services must ensure that their cybersecurity protocols and data privacy policies adequately protect their systems and users. Since the Supreme Court struck down the federal ban on sports gambling...more

K2 Integrity

Mobile Sports Gambling and Sports Betting Risks

K2 Integrity on

Gambling is an industry that, like it or not, is inherently associated with risk. In fact, its very existence is based on participants willing to take chances with (usually) their own hard-earned money. These truths, as well...more

Payne & Fears

[Webinar] Is Your Hotel/Casino Insured for its Coronavirus Business Interruption Losses? - April 2nd, 4:00 pm - 5:00 pm PDT

Payne & Fears on

Resorts, hotels, casinos, and others in the hospitality industry are experiencing devastating losses as the result of recent government shutdowns in response to the COVID-19 pandemic. Is there anything you can do to salvage...more

Troutman Pepper

Two New NLRB Decisions Allow Employers to Limit Use of Its Email System and Preserve Confidentiality of Workplace Investigations

Troutman Pepper on

Q: What is the current rule on whether an employee can use our company’s email system to distribute union material? Also, are we permitted to require employees to keep workplace investigations confidential without running...more

Ballard Spahr LLP

AMA Updates AML Best Practices for AML Compliance

Ballard Spahr LLP on

AMA Details Components of a Strong AML/BSA Program - Earlier this month, the American Gaming Association (“AGA”) released an updated Best Practices for Anti-Money Laundering (“AML”) Compliance (“Best Practices Guidance”)...more

Foodman CPAs & Advisors

Did you know that Casinos are Financial Institutions?

Since 1985, Casinos that have Gross Annual Gaming Revenues in excess of $1,000,000 are considered to be Financial Institutions and are subject to the requirements of the Bank Secrecy Act (BSA). ...more

Bradley Arant Boult Cummings LLP

Don’t Roll the Dice: FinCEN Assesses Significant Penalties on Regulated Entity for Failing to Implement a Comprehensive AML...

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

K2 Integrity

Upping the Ante on Casinos’ AML Compliance

K2 Integrity on

FinCEN focus requires major shift in gaming business practices - Which complex, global industry where billions of dollars exchange hands every day, and where high-net-worth customers park significant sums, is facing...more

The Volkov Law Group

Rolling the Dice: Casinos, FinCEN and AML Compliance

The Volkov Law Group on

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

Manatt, Phelps & Phillips, LLP

AML Compliance Expectations Unabated—Fines, Enforcement Actions and a Deferred Prosecution Agreement Against Banks, Money...

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

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