HomePublicationsNewsletter ArchiveNewslettersVolume 21Issue 16Michigan Casino Compliance Company Highlighted on Hero's Journey

Recently, Brian Ferrilla, Founder and Managing Director of Resort Advantage, was highlighted on the Casino Enterprise Management radio show Hero’s Journey with John Acres. The discussion provided insight into steps that can be taken to ensure financial reporting compliance in the gaming industry, and also provided insight into the success Mr. Ferrilla and his Michigan-based company have had in providing casinos with assistance in this ever-evolving area.

Mr. Acres and Mr. Ferrilla also discussed the details of how unscrupulous individuals may seek to use a casino to launder money and the risks of operating in a high cash volume business. Maintaining compliance includes a strong set of internal procedures and systems that seek to prevent unlawful activities and to prevent those seeking to exploit existing processes from doing so. As criminal activities evolve, a property is increasingly tasked with combining several data points from different divisions within the operations to maintain compliance with financial regulations. Therefore, it is important for casinos to facilitate communications between various departments and to track and recognize which patron activities, in the aggregate, represent suspicious activity worthy of greater investigation. In addition, the discussion included a broad overview of the goals of government regulation and how regulations need to be tailored so as to not overly burden businesses.

“As we see today and we read in newspapers and throughout the industry, particularly the gaming industry, compliance is becoming more important in the mission of FinCEN and BSA to try and prevent money laundering,” stated Mr. Ferrilla. “Compliance processes are designed to help reduce the risk in the processes that these financial intuitions, ergo casinos in our industry, have to be aware of.”

Resort Advantage is a Michigan-based compliance software company that has carved out a niche in the international gaming industry providing gaming properties with automated solutions for Title 31, Anti-Money Laundering, and other ongoing regulatory compliance issues. The company is based in Southfield, Michigan and has worked with a number of casinos across the U.S. to refine existing compliance plans, ensure that gaming employees are trained by providing educational webinars and other outlets, and assisting companies in maintaining compliance in cost effective ways.

To listen to the interview, please visit the Casino Enterprise Management website, here: http://www.cemaudioedge.com/episode/heros-journey-john-acres-brian-ferrilla. More information on Resort Advantage, is available at the company’s website, here: http://www.resort-advantage.com/  

 

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