AGA report: Casinos remain dedicated to complying with AML legislation

By Alex Hammond
The American Gaming Association has released its latest report, praising the US casino industry’s level of compliance with anti-money laundering legislation.

The 40 page dossier, entitled ‘Investing in America’s Financial Security: Casinos’ Commitment to Anti-Money Laundering Compliance’ has been published in partnership with Ernst & Young, and offers a robust defence of US casinos’ dedication to AML fulfilment since the last Financial Action Task Force (FATF) Mutual Evaluation in 2006.

The report reveals that US casino and gambling organisations are more ‘invested, compliant and vigilant than ever before in combating money laundering and terrorist financing.’

Over the past five years 68% of gaming companies have increased their AML compliance budget, by an average of 74%. 65% of gaming companies plan to increase their AML budget further, including additional full time hires, in the coming fiscal year.

Also on the rise are Suspicious Activity Reports (SAR) filings, which have risen 164% between 2011 and 2014.

The next FATF Mutual Evaluation, a detailed study looking into money laundering and terrorist financing risks across multiple financial industries, is due to be released later this year.


Share This Post


More News

The continued delay of reopening casinos in the UK is a “blessing in disguise”, according to a gambling industry analyst. With the coronavirus pandemic forcing casinos shut in late-March, venues in England...

Representatives from Everi Holdings, Trustly and Global Payments Inc, who all specialise in providing payment solutions to the gambling industry, spoke with Owain Flanders about the effects of the COVID-19 pandemic...