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Probe of Las Vegas Sands Prompts Other Casinos to Strengthen their AML Programs
By Brian Monroe
printSeveral of the largest casinos in Nevada are strengthening their Patriot Act controls in the wake of an investigation into Las Vegas Sands Corp. for insufficiently vetting risky clients. MGM Resorts International, Wynn Resorts Limited and Sands have all taken steps to improve their analysis of suspicious activity reports (SARs), better their internal auditing and bolster their anti-money laundering (AML) staff by creating new positions or replacing top AML executives, say sources. "The Sands, the Wynn and MGM are all trying to beef up AML staffing," said a former state regulatory official with direct knowledge of the matter. "The casinos...
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