Lake Elsinore Casino fined US$900,000 by FinCEN over BSA/AML failings

California, USA-based Lake Elsinore Hotel and Casino, on 23 October, agreed to a consent order from FinCEN under which it will pay a civil penalty of US$850,000 for major gaps in its Bank Secrecy Act/anti-money laundering controls, between 7 September 2014 and 11 February 2019. A further US$50,000 charge will apply if the firm fails, within a year, to report to FinCEN on how it is progressing remediation recommended by a qualified independent consultant.

California, USA-based Lake Elsinore Hotel and Casino, on 23 October [2024], agreed to a consent order from FinCEN under which it will pay a civil penalty of US$850,000 for major gaps in its Bank Secrecy Act/anti-money laundering controls, between 7 September 2014 and 11 February 2019. A further US$50,000 charge will apply if the firm fails, within a year, to report to FinCEN on how it is progressing remediation recommended by a qualified independent consultant. [1]