Casinos face new money-laundering, compliance rules

In light of a recent settlement between Las Vegas Sands and the federal government, casinos must refocus their efforts to ensure compliance with federal law

High rollers know they are taking a risk anytime they sit down at a roulette wheel or craps table. But now the casinos themselves must be aware of the risks they are taking when these cash-only gamblers start throwing their money around.

The recent agreement between Las Vegas Sands and the federal government resulted in a $47 million price tag for the casino. The agreement represents the culmination of a two-year investigation into money laundering allegations surrounding a Chinese national who has been accused of being a drug kingpin. 

Senior Editor and Community Manager

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Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

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