Regulatory Alerts2015-09-08 | 2015-10Added
Assessment of Civil Money Penalty Against Desert Palace, Inc. d/b/a Caesars Palace
FinCEN assessed an $8 million civil money penalty against Desert Palace, Inc. d/b/a Caesars Palace for willful violations of the Bank Secrecy Act, including failures to implement an effective anti-money laundering program and to file over 100 required Suspicious Activity Reports. The entity agreed to retain an independent external auditor for four reviews starting within 60 days, submit annual AML program reports for three years, and provide annual training documentation for the same period.
Topics
Share