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Casinos are cash-intensive operations that extend credit and provide financial services such as check cashing, which makes them vulnerable to customers who wish to exploit the establishment to move and conceal illicit funds.

Key Takeaways

  • Casinos extend credit and conduct millions of dollars of cash transactions every day, exposing them to criminal schemes.
  • Regulators have heightened their scrutiny of casinos and taken enforcement actions against casinos that failed to adequately manage compliance with federal anti-moneylaundering statutes.
  • All casinos should have a culture of compliance to ensure that AML programs are comprehensive and effective.