The Nevada Gaming Control Board (“Board”) recently filed a complaint (“Complaint”) against Resorts World Las Vegas casino (“Resorts World”), alleging that, despite repeated red flags, Resorts World’s Anti-Money Laundering...more
8/27/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Casinos ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Illegal Gambling ,
Money Laundering
After several years of monitoring and reporting on artificial intelligence (AI) in financial services, the U.S. Department of Treasury (Treasury) has embarked on initial rulemaking efforts and issued a request for information...more
6/27/2024
/ AML/CFT ,
Anti-Money Laundering ,
Artificial Intelligence ,
BSA/AML ,
Consumer Financial Products ,
Financial Institutions ,
Financial Services Industry ,
Machine Learning ,
Non-Discrimination Rules ,
Request For Information ,
Risk Management ,
U.S. Treasury ,
UDAAP
The U.S. Department of the Treasury (“Treasury”) has released a Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence (“AI”) in the Financial Services Sector (“RFI”). Written comments are...more
6/17/2024
/ Algorithms ,
AML/CFT ,
Anti-Money Laundering ,
Artificial Intelligence ,
Bank Secrecy Act ,
BSA/AML ,
Consumer Financial Products ,
Data Privacy ,
Disclosure Requirements ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Gramm-Leach-Blilely Act ,
Investor Protection ,
Machine Learning ,
Money Laundering ,
Request For Information ,
Risk Management ,
U.S. Treasury
The Department of Justice (“DOJ”) has been very active in the Bank Secrecy Act (“BSA”) / Anti-Money Laundering (“AML”) space, as reflected by a recent series of individual prosecutions and corporate non-prosecution agreements...more
2/5/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Criminal Investigations ,
Criminal Prosecution ,
Cryptocurrency ,
Currency Transaction Reports (CTR) ,
Department of Justice (DOJ) ,
Due Diligence ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
Financial Transactions ,
FinCEN ,
Money Laundering ,
Money Transmitter ,
Non-Prosecution Agreements ,
Suspicious Activity Reports (SARs)