Complinet logo
Search
Contact us

Sands casino group beefs up anti-money laundering safeguards -report

Jan 25 2013 Reuters

Las Vegas Sands Corp is no longer making international money transfers for its high-end casino customers and is revamping its compliance procedures as it faces regulatory scrutiny, the Wall Street Journal reported, citing people familiar with the matter.  The casino operator, which is the subject of a money-laundering investigation by U.S. authorities, has recently hired three former FBI agents to beef up its anti-money-laundering efforts, the Journal reported. U.S. regulators are taking a look at the casino industry and considering tougher rules to combat money-laundering, the Journal said, citing Treasury Department officials. The Sands, controlled by billionaire Sheldon Adelson, is also planning to improve the background checks the company does on its VIP customers and is retraining its staff on U.S. antibribery laws. Sands has been in talks with U.S. authorities to resolve a probe into whether the casino failed to alert officials about suspicious transactions of two high

Already have an account?

Log in

Want to read this article?

Click here for a free 14 day trial