Regulatory Alerts2018-05-03 | 2018-02Added
Assessment of Civil Money Penalty Against Artichoke Joe’s Casino
FinCEN imposes an $8,000,000 civil money penalty on Artichoke Joe’s Casino for willful violations of the Bank Secrecy Act between October 2009 and November 2017. The penalty includes a $3,000,000 suspension contingent upon the casino's compliance with specific remedial undertakings, including hiring an independent consultant within 60 days. The violations stem from the casino's failure to maintain an effective anti-money laundering program, inadequate internal controls, and the failure to timely and accurately report suspicious transactions.
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