- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-09-10T14:29:00
Wynn Las Vegas agreed to forfeit $130 million to settle a range of criminal allegations, including allegedly helping foreign customers hide money transfers and shielding patrons from Bank Secrecy Act and anti-money laundering (BSA/AML) rules, the Department of Justice (DOJ) said.
The forfeiture was the largest paid by a casino in a criminal case, the U.S. Attorney’s Office for the Southern District of California announced in a press release Friday.
Wynn allegedly hired an unlicensed third-party money transfer advisers so that its foreign gambling customers could transfer money to and from Latin America and elsewhere without encountering normal banking regulations.
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A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
Two Las Vegas casinos agreed to pay penalties of nearly $7.5 million as part of separate non-prosecution agreements with the Department of Justice addressing violations of the Bank Secrecy Act over alleged anti-money laundering compliance failings.
Australian gaming company SkyCity Entertainment Group disclosed it reserved AUS$45 million (U.S. $29 million) for a potential settlement resolving alleged violations of the country’s anti-money laundering and combating the financing of terrorism law.
