Caesars Palace assessed $8 million BSA penalty
FinCEN has announced that it has issued an assessment order against Desert Palace, Inc. d/b/a Caesars Palace. The assessment was made following the October 19, 2015, approval of an earlier settlement order against the gambling establishment. Caesar's had admitted that it violated the BSA’s anti-money laundering program and suspicious activity reporting requirements. This civil money penalty will be allowed as a general unsecured claim in Caesars’ Bankruptcy Case subject to the rights of the United States to assert its setoff and recoupment rights. This action will complete the action taken on September 8. 2015.
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