Compliance for the Casino and Gaming Industry
Stakes are high in the casino industry Many casinos offer house accounts for their customers as a courtesy, categorizing them as a type of “financial institution” by the U.S. government. As a result, they are expected to uphold the same compliance requirements as banks and credit unions to ensure compliance with regulations regarding terrorism and anti-money laundering laws – such as OFAC, the USA PATRIOT Act, the Bank Secrecy Act, Red Flags and more.
With increasing national security, casinos should “know their customers” even better than before and be checking OFAC’s SDN list in instances where large sums of money are deposited into house accounts. These instances could be examples of money laundering illegal funds, and scanning against the OFAC list allows casinos to avoid facilitating financial crime unknowingly.
Protect Your Casino and Stay Compliant with CSI
As a trusted advisor in regulatory compliance solutions, the CSI compliance division has been serving the compliance needs of the gaming industry since 1998.
Our suite of compliance software solutions and compliance services:
- Combines the latest technology with the compliance expertise of industry trained professionals to ensure your business meets casino and gaming industry regulations
- Streamlines your watch list screening process to maintain compliance with OFAC, the USA PATRIOT Act, FinCEN and other U.S. laws and regulations
- Evaluates your businesses risk according to industry regulations and provides cost-efficient solutions for improving your regulatory compliance
What do you need to do to comply? CSI knows – let us help you avoid government fines, increase protection from fraud and make regulatory compliance hassle free. Know your customers and reduce your risk – Call CSI today for more information about compliance solutions that are right for your business – 888.494.8449.