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Fewer Casinos Sharing Suspicious Client Data Despite Safe Harbor

By Valentina Pasquali

The number of U.S. casinos exchanging tips on suspected money launderers or terrorist financiers with each other has declined since last year, the head of the Treasury Department’s Financial Crimes Enforcement Network said Tuesday. In prepared remarks, FinCEN Director Ken Blanco disclosed that gaming establishments registered to participate in a voluntary data-sharing program under section 314(b) of the U.S. Patriot Act dropped from more than 200 in 2017 to 183 in the first seven months of this year. Casinos now comprise only 2 percent of the more than 6,400 banks, money services businesses and other regulated entities involved in the...

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