Casinos fined $34 million for AML and KYC failures

Casino operators were fined a total of $34 million in September due to failures in anti-money laundering (AML) and know-your-customer (KYC) protocols. This information was disclosed during the Global Gaming Expo.

Specific instances of non-compliance included a casino allowing an individual to gamble over 80 separate days without verifying the source of funds, and another operator permitting a high-risk gambler to continue playing despite receiving specific tips and internal red flags.

Industry experts noted that regulators are shifting their focus from merely having compliance programs on paper to requiring proof that these programs are effectively implemented and capable of managing real-world risks.