Regulatory Alerts2000-09-08 | PDF OnlyAdded
Suspicious Activities Reported by Casinos
The August 2000 SAR Bulletin identifies patterns where casino customer accounts are used as conduits to transfer significant funds with minimal or no gaming activity. During 1998–1999, casinos in five states filed over 40 Suspicious Activity Reports involving wire transfers and cashier’s checks totaling approximately $5.4 million deposited as front money and subsequently cashed out via various methods. The document advises casinos to remain sensitive to transactions inconsistent with normal gaming parameters and to ensure internal controls reflect associated money laundering risks.
Topics
Share