U.S. Treasury unit fines California casino $900K over anti-money-laundering violations
Regulation · 2024-10-24
U.S. Treasury unit fines California casino $900K over anti-money-laundering violations
The Financial Crimes Enforcement Network has fined a California casino over alleged willful violations of anti-money-laundering regulations, its first enforcement action against a casino in six years.
California-based Lake Elsinore Hotel and Casino has agreed to pay about $900,000 to settle allegations that it failed to comply with the Bank Secrecy Act for more than 4½ years, FinCEN said Wednesday. These violations included failure to implement and maintain an effective anti-money-laundering program and failure to file currency transaction reports and suspicious activity reports.
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