Summary
MGM Resorts International is ramping up its anti-money laundering (AML) efforts following investigations into illegal bookmakers operating within its casinos. The company is investing over $1 million to improve compliance and has filed an impressive 46,000 suspicious activity reports over the past decade, leading to the banning of more than 2,600 customers. This increased vigilance comes after receiving steep fines amounting to $19 million linked to financial misconduct.
Key Points
- MGM is investing over $1 million in enhanced anti-money laundering compliance.
- Over the last 10 years, 46,000 suspicious activity reports have been filed by MGM.
- The Nevada Gaming Commission issued $19 million in fines to MGM and Resorts World for AML violations.
- MGM’s recent fine of $8.5 million is part of a broader crackdown on illegal gambling.
- The company has introduced a series of compliance improvements and training initiatives.
Why should I read this?
If you care about the integrity of gambling in Las Vegas, you’ll want to check out this article! MGM’s proactive measures and hefty investment in preventing money laundering could reshape how casinos operate in the future. It’s a must-read for anyone interested in the intersection of gaming and regulatory compliance!
