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Casinos Fight Against Money Laundering
The new federal laws against terrorism as well as Suspicious
Activities Reports (SAR) are the main weapons to fight money laundering
in casinos, said a group of experts during a convention held in Puerto
Rico on Tuesday.
The Patriot Act contains dispositions that enable the investigation
of suspicious money laundering activities in the U.S. and in other
Ever since last year, the law has required casinos in U.S.
jurisdictions to fill out a SAR form whenever they detect suspicious
activity, said William Kisby, vice president of NFC, Inc. financial and
fraud investigations firm.
"Casinos must pay attention and document their clients suspicious
transactions, said Kisby, one of the speakers at the convention.
Kisby added that online casinos and electronic money transfers are
the newest modalities preferred by money launderers.
Guillermo Cabret, director of the Puerto Rico Tourism Co.s Games
Division, said anti-money laundering measures have also been implemented
in Puerto Rico to reinforce controls against illegal activities.
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