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Financial Services Law Insights and Observations

California AG takes action against casino for AML violations

State Issues State Attorney General Financial Crimes Anti-Money Laundering Bank Secrecy Act Enforcement DOJ California

State Issues

On November 5, the California attorney general filed an administrative accusation with the California Gambling Control Commission against a California casino for violating the Bank Secrecy Act’s (BSA) anti-money laundering provisions. The action, which follows a federal investigation, alleges that the casino “overlooked, neglected, or was willfully blind to accusations and actions taken against other casinos for violations of the BSA and for failing to maintain adequate Anti Money Laundering (AML) programs.” The casino had previously entered into a Non-Prosecution Agreement with the U.S. Attorney’s Office for the Central District of California, accepted responsibility for “failing to properly file reports for a foreign national who conducted millions of dollars in cash transactions at the casino,” and agreed to pay $500,000 and undergo an increased review of its AML compliance program to prevent future violations, according to a DOJ press release. The California AG now seeks to hold the casino and its owners responsible for state law violations.

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