Casinos are under increasing governmental pressure to develop stronger and more effective Anti-Money Laundering (AML)/Combatting the Financing of Terrorism (CFT) controls. In the efforts against money laundering and terrorism financing casinos are subject to a list of requirements as set forth in both national and international laws and regulations. The daily operations of casinos tend to be intrinsically different than many other organizations that are subject to the same AML/CFT regulations. Therefore, it is important to fully assess a casino’s operations to ensure that all compliance activities meet the legal requirements in a manner that best suits the organization.
During this training the main focus will be specifically on how to conduct proper transaction monitoring (real time and post event) to insure the timely detection of unusual transactions and timely reporting to the FIU.
Furthermore, we will discuss the implementation of the AML regulations in Casinos and dive into the challenges for casinos to comply with the legislation illustrated with practical examples and discuss Money Laundering typologies for casinos.
- Applicable legislation and regulations
- The role and responsibilities of the MLCO/MLRO
- Assessing risks of casino games
- Customer Due Diligence: Valid Identification documents
- Transaction Monitoring (real time and post event)
- Politically Exposed Persons (PEPs)
- How reliable is your database (CMP etc.)
- Penalties for non-compliance
- Money Laundering Compliance Officers & Money Laundering Reporting Officers
- Managing Directors & General Managers
- Manager on Duty (MOD)
- Cage personnel
- Pitt Bosses & Supervisors
- Players Card Club personnel
- Slot department personnel
- Surveillance department personnel
- Internal audit staff
During this interactive and engaging course, you will enhance your understanding of AML and CFT. It will provide practical guidance to assist in safeguarding your casino operations with proper AML and CFT measures. You will also learn about the need to ‘know your clients’ and how to incorporate that in to daily casino operations. Address the roles and responsibilities of those working with AML and CFT and learn what is required to avoid sanctions and fines.
There are no requirements for participation.
Duration of the training
The duration of the training is 4 hours.
Afl. 445,- pp. (incl. taxes)
Costs includes: Training sheets and Certificate of participation.
Date: October 13, 2021
Time: 8:30 – 12:30
Location: This training will be held at the training center of Compliance Services Caribbean located at Caya Taratata 3-A, Unit 16 (Opposite RBC Bank Italiëstraat).