The American Gaming Association shared with mGamingWatch today its latest announcement made public just moments ago.
One year after issuing the first-ever comprehensive set of Anti-Money Laundering (AML) Best Practices, the AGA today released updates that include enhanced emphasis on instilling a strong culture of compliance; more robust assessment of money laundering risks; incorporation of key conclusions from the U.S. Treasury Department; and improved employee training on the latest AML updates.
The Best Practices guide the efforts of casinos to protect the U.S. financial system and America’s national security from money laundering and other forms of illicit finance.
The landmark first version of the document was developed in coordination with the Financial Crimes Enforcement Network (FinCEN) and with compliance representatives from a broad array of AGA member companies.
“Our industry’s commitment to a culture of compliance is stronger than ever, and our updated Best Practices ensure that casinos of all sizes are protecting themselves and America’s national security,” said Geoff Freeman, president and CEO of the AGA. “We will continue to bolster these Best Practices, adapt to evolving threats and incorporate guidance from FinCEN and other regulators who share our goal of preventing illicit activity from occurring at gaming properties.”
To review the new best practices, click here.