On the anniversary of the first ever comprehensive guidance on Anti-Money Laundering (AML) Best Practices, the American Gaming Association (AGA) released updates yesterday to help operators come into and stay in compliance with the sometime complicated and labyrinthine U.S. banking laws. The updates can be read online in .PDF format.

According to a press release from the AGA, “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.”

Among the updates are a strong emphasis on instilling a culture of compliance in the industry; targeted assessments of money laundering risks in all aspects of casino business; incorporation of Treasury’s risk assessment, and guidance on training and refreshing employee compliance with changes in the laws and regulations including Government issued guidance.

 

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