HomePublicationsNewsletter ArchiveVolume 24Issue 24FinCEN DIRECTOR KENNETH BLANCO HIGHLIGHTS 11TH ANNUAL ANTI-MONEY LAUNDERING CONFERENCE

The 11thAnnual Anti-Money Laundering Conference opened Tuesday, August 14th, 2018 in Las Vegas.  In addition to FinCEN Director Kenneth Blanco delivering the keynote speech, the conference featured panels, presentations and addresses from FinCEN’s enforcement division and keynote speeches from Eric Hylton, the Deputy Chief of IRS Criminal Investigations, and Leo Tsao, Chief of Bank Integrity Unit of the Department of Justice’s Money Laundering and Asset Recovery Section.

Attendees were offered panels and workshops addressing all aspects of AML, including risks related to the Marijuana industry, SAR best practices, data analytics, cyber security, cryptocurrency and IRS investigations.

In his address, Mr. Blanco shared his perspectives as it affects the casino industry. His remarks in their entirety can be found here.  He highlighted how FinCEN uses the Bank Secrecy Act information casinos provide and how important it is to AML enforcement and prevention.  He offered strategies for utilizing gathered information, getting it into the right person’s hands and how it ensures casino compliance with FinCEN requirements.  Mr. Blanco urged increased information sharing through the 314(b) program, noting that increased information sharing between casinos and financial institutions helps crack down on potential laundering activity.  Finally, he touched on emerging technology and its impacts on the casino industry.  Mr. Blanco concluded his remarks by stating: “I am encouraged by the productive discussions FinCEN and the gaming industry have engaged in over the past several years.  Events such as this one are important.  I would be interested in hearing your thoughts on how we can broaden our reach.”

 

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