A casino on the Northern Mariana Islands agreed to a multimillion-dollar settlement with the U.S. Department of Justice over its alleged failure to report more than $138 million in cash transactions. The casino never developed an anti-money laundering program or policies designed to detect suspicious transactions.
Attorney Gregory Baldwin said "a lot of casinos have been living in almost a time warp" in which they don't understand or comply with their obligations.
“Casinos have come to FinCEN’s attention," Mr. Baldwin said. "They have been regulating casinos for decades, but the attention from FinCEN is new."
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