Regulatory Alerts2016-04-05 | 2016-03Added
Assessment of Civil Money Penalty Against Sparks Nugget, Inc. d/b/a John Ascuaga’s Nugget
FinCEN assesses a $1 million civil money penalty against Sparks Nugget, Inc. d/b/a John Ascuaga’s Nugget for willfully violating the Bank Secrecy Act between 2010 and November 2013. The entity failed to implement an effective anti-money laundering program, including internal controls and independent testing, and neglected to file required Suspicious Activity Reports and Currency Transaction Reports. Additionally, the casino committed numerous recordkeeping violations, such as omitting transactions from logs and failing to aggregate cash transactions properly.
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