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FinCEN Fines Tribal Casino for AML Failures
By Brian Monroe
printThe U.S. Treasury handed down a $250,000 civil money penalty against a small Minnesota tribal casino on Thursday for "extensive violations" of anti-money laundering rules over a three-year period. The penalty handed down by the Financial Crimes Enforcement Network (FinCEN) against the Lower Sioux Indian Community, which runs the Jackpot Junction Casino Hotel, is the agency's first against a gambling operation in more than five years. Between April 1999 and March 2006, FinCEN penalized nine casinos, according to the FinCEN Web site. Jackpot Junction, which averages about 2,000 players per day, missed or filed late dozens of customer transaction reports...
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