How can casinos stop money-laundering?

[Julio88]

Casinos can stop money laundering by implementing and maintaining strict anti-money laundering (AML) programs. These programs should include measures such as verifying customer identities, educating staff on how to spot suspicious activities, monitoring large or suspicious transactions, and filing Suspicious Activity Reports (SARs). Additionally, casinos should implement strong internal controls, such as segregation of duties and independent reviews, to ensure that all activities are properly monitored and documented.

 

[Crazy_winner]

Employees should receive training on how to spot signs of money laundering, such as irregular or puzzling gambling patterns, significant cash transactions, or clients trying to avoid identification requirements. Inform staff about the regulations, practices, and the significance of their part in preventing money laundering on a regular basis.