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Anti-Money Laundering Gaming

Holland & Knight LLP

Finland Proposes Sweeping Reform of Gaming Market with Open Licensing System

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The Finnish government has unveiled a draft law proposing a major overhaul of the country's gaming regulatory landscape. The proposed system, targeted for launch in January 2027, would usher in a new era of open competition...more

Ballard Spahr LLP

PLI Anti-Money Laundering Conference to Address Key Issues in BSA/AML (UPDATED)

Ballard Spahr LLP on

I am very pleased to co-chair again the Practicing Law Institute’s 2024 Anti-Money Laundering Conference on May 23, 2024, starting at 9 a.m. in New York City (the event also will be virtual).  I am also really fortunate to be...more

Perkins Coie

Mapping Future Enforcement in US Gaming Law Based on Recent UK Enforcement

Perkins Coie on

Regulated gaming is booming in the United States. This is particularly true of newer forms of gambling, such as skill games, fantasy sports, and social casino games played on the internet and mobile applications. In fact,...more

Wilson Sonsini Goodrich & Rosati

How Gaming Companies Can Become Inadvertent Money Services Businesses

Many federal anti-money laundering (AML) laws require proactive steps to guard against financial crime. While these laws requiring proactive measures generally apply only to financial institutions, gaming companies may...more

Ballard Spahr LLP

AMA Updates AML Best Practices for AML Compliance

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AMA Details Components of a Strong AML/BSA Program - Earlier this month, the American Gaming Association (“AGA”) released an updated Best Practices for Anti-Money Laundering (“AML”) Compliance (“Best Practices Guidance”)...more

Latham & Watkins LLP

Meet Me at the Arcade: SEC Provides No-Action Relief for Ethereum-Based Gaming Token

Latham & Watkins LLP on

The SEC issues second no-action letter for a digital token, but will “utility” token offerings reach the next level? Gamers, rejoice! In only its second no-action letter to date for digital tokens, the SEC cleared the way...more

Ballard Spahr LLP

FinCEN Director Continues to Push Value of SARs and Other BSA Data

Ballard Spahr LLP on

As we just blogged, Financial Crimes Enforcement Network (“FinCEN”) Director Kenneth Blanco recently touted the value of Suspicious Activity Reports (“SARs”) in the context of discussing anti-money laundering (“AML”)...more

Ballard Spahr LLP

FinCEN Extends $3 Million Carrot to Card Club and Casino: Reduce Assessed Civil Penalty by Completing Compliance Undertakings

Ballard Spahr LLP on

FinCEN announced on May 3, 2018 that Artichoke Joe’s, a card club and casino located in San Bruno, California and founded in 1916, has entered into a revised civil money penalty assessment regarding alleged deficiencies under...more

Dickinson Wright

New Anti-Money Laundering Recommendations For British Columbia Casinos

Dickinson Wright on

On December 5, 2017, following an internal government review of the casino sector after allegations of transnational money laundering and illicit cash transactions in gaming facilities in the Lower Mainland, British Columbia...more

Fox Rothschild LLP

California Card Club Plagued By Allegations Of Criminal Activity Fined $8 Million For AML Violations

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Today the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced that it had fined a California card club, Artichoke Joe’s Casino, $8 million for numerous willful violations of the Bank Secrecy Act...more

Ballard Spahr LLP

2016 Year in Review: Money Laundering (Part One)

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2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key...more

K2 Integrity

Upping the Ante on Casinos’ AML Compliance

K2 Integrity on

FinCEN focus requires major shift in gaming business practices - Which complex, global industry where billions of dollars exchange hands every day, and where high-net-worth customers park significant sums, is facing...more

McGuireWoods LLP

FinCEN Announces First Card Club AML Enforcement Action

McGuireWoods LLP on

Just in time for Christmas, the Financial Crimes Enforcement Network (FinCEN), the financial industry (including casinos and card clubs) regulator, announced its first-ever enforcement action against a card club, California’s...more

McGuireWoods LLP

AML Compliance Developments in the Gaming Industry

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Executives of regulated entities often lament that fulfilling compliance obligations interferes with their ability to operate their business. However, an extensive (and extended) regulator investigation with the potential for...more

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