How are casinos combating money laundering?

Casinos are implementing various measures to combat money laundering, including:

1. Customer due diligence: Casinos are required to conduct thorough customer due diligence checks, including verifying the identity of customers and obtaining information about their source of funds.

2. Transaction monitoring: Casinos monitor all transactions to identify suspicious activity, such as large cash transactions or transactions that involve structuring.

3. Reporting suspicious activity: Casinos are required to report suspicious activity to the relevant authorities, including large and unusual transactions or transactions that have no apparent lawful purpose.

4. Compliance programs: Casinos have implemented compliance programs to ensure that they are conducting business in compliance with all applicable regulations.

5. Education and training: Casinos provide education and training to their employees on how to identify and report suspicious activity.

6. Use of technology: Casinos are adopting advanced technologies, such as biometric identification and machine learning, to help automate the process of detecting suspicious activity and reducing the risk of money laundering.

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