Typical 'Deficiencies' in Tribal Casino Anti-Money Laundering Compliance Audits
Corporate Partner Gregory Baldwin published an article titled "Typical 'Deficiencies' in Tribal Casino Anti-Money Laundering Compliance Audits" in Native American Casino.
The article discusses IRS auditing of tribal casino Bank Secrecy Act compliance, outlining common 'deficiencies' and offering practical recommendations for correcting them. BSA regulations require every tribal casino to implement a written anti-money laundering program, and the IRS increased its efforts to monitor compliance with these regulations in 2007. Mr. Baldwin explains that many of the common deficiencies can be easily and inexpensively addressed before an IRS BSA audit, and he notes that it is in each casino's best interest to do so.
"Reprinted with permission from Native American Casino magazine, April 2009 and August 2009."