Lessons From FinCEN's Latest Gaming Enforcement Action

Law360, New York (November 2, 2016, 11:51 AM EDT) -- Eric G. Fikry

Lauren E. O'Donnell On Oct. 3, 2016, the Financial Crimes Enforcement Network assessed a civil monetary penalty of $12 million against CG Technology d/b/a Cantor Gaming, pursuant to the Bank Secrecy Act and its regulations, with which casinos are required to comply. In addition to the fine, Cantor is required to undertake remedial compliance measures and pay $16.5 million to the U.S. Department of Justice to settle a parallel investigation (a portion of the FinCEN fine was offset by this payment).

Cantor operates race and sports books in Nevada, offers mobile gaming within Nevada, and provides gaming technology to...

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