HomePublicationsNewsletter ArchiveVolume 25Issue 34AGA UPDATES ANTI-MONEY LAUNDERING BEST PRACTICES

The American Gaming Association (“AGA”) recently released an updated Best Practices for Anti-Money Laundering (AML) Compliance Guide on December 9, 2019. The guide reflects the casino industry’s understanding of the need for protection against money laundering and its continued commitment to compliance.  The AGA initially published its guide in 2014, setting up the casino industry as the first industry to set forth a comprehensive best practices compilation for Anti-Money Laundering rules and regulations. 

AML guidance and enforcement is provided by the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FINCEN”) through compliance guidelines, enforcement actions and informal guidance.  The updated Best Practices Guide contains an expanded risk assessment section as well as more detailed Know Your Customer/Customer Due Diligence guidelines. Other updates include a continued commitment to a strong compliance culture and casino industry engagement with government and law enforcement, and update recommendations on new and emerging forms of gaming such as sports wagering and mobile gaming. 

“As one of the most highly regulated industries in the United States, it is imperative we take every possible step to discourage illicit behavior and safeguard the integrity of the casino industry,” said Bill Miller, President and CEO of the American Gaming Association. “Through our ongoing partnership with FinCEN, the Treasury Department, and law enforcement, our industry continues to be a leader in compliance.”


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