Regulatory Alerts2017-01-04
Sharing Suspicious Activity Reports with U.S. Parents and Affiliates of Casinos
The Financial Crimes Enforcement Network (FinCEN) issued this guidance to confirm that casinos may share Suspicious Activity Reports (SARs) with domestic parents and affiliates subject to BSA requirements. This permission facilitates enterprise-wide risk management and anti-money laundering efforts while strictly prohibiting disclosures to foreign entities, non-gaming functions, or unrelated financial institutions. Casinos must implement internal controls to maintain confidentiality and ensure no information is disclosed to persons involved in the suspicious activity.
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