Washington, DC – American Gaming Association (AGA) President and CEO Geoff Freeman released the following after Financial Crimes Enforcement Network (FinCEN) Director Jennifer Shasky Calvery announced her departure from the agency:
“We’ve appreciated the chance to work with Director Shasky Calvery and commend her leadership in protecting the U.S. financial system from illicit activity. As FATF evaluates the U.S. financial system this year, we were pleased to provide FinCEN with a first-ever report that demonstrates gaming’s strong commitment to a culture of compliance and outlines the significant steps the gaming industry is taking to combat money laundering. We look forward to further strengthening our partnership with the federal government as our industry continues investing in anti-money laundering compliance programs.”
In January, AGA released the most comprehensive examination ever conducted of the U.S. casino gaming industry’s compliance with anti-money laundering (AML) compliance. “Investing in America’s Financial Security: Casinos’ Commitment to Anti-Money Laundering Compliance,” finds that casino gaming companies have significantly boosted their investment and vigilance to combat money laundering and terrorist financing in compliance with the federal Bank Secrecy Act (BSA) and associated AML regulations. It also finds that the industry has implemented a sweeping series of customer due diligence procedures to monitor illicit behavior, and has considerably increased the number of Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) filed with the federal government.
