VIENNA, Va. – The Financial Crimes Enforcement Network (FinCEN) today announced the assessment of a $250,000 civil money penalty against The Lower Sioux Indian Community, doing business as Jackpot Junction Casino Hotel of Morton, Minnesota for violating Bank Secrecy Act (BSA) requirements for casinos. The Casino, without admitting or denying the allegations, consented to the payment of civil money penalties which were assessed for violations of the anti-money laundering program, reporting and recordkeeping requirements of the BSA.
“As with other recent penalty actions by FinCEN involving banks and money transmitters, today’s casino action highlights the importance for all types of financial institutions to institute and maintain BSA compliance programs commensurate with their operations and risk,” stated FinCEN Director James H. Freis, Jr.
Detailed news link: here
Direct link to the report: here