Tag Archives: US Treasury Department
- US, Swiss governments agree to split $49m seized from BetOnSports’ Gary Kaplan
November 24, 2015
Crime doesn’t pay, unless you’re a national government with the power to seize assets you deem to be the proceeds of criminal activity. On Tuesday, Switzerland’s justice ministry announced that the Swiss government and their United States counterparts would share around $49m that formerly belonged to Gary Kaplan, the founder...
- US Treasury Department money laundering risk assessment targets casinos
June 17, 2015
Nevada casinos confiscate around $40k in counterfeit cash every week, according to a new US government study. Last week saw the release of the Treasury Department’s national money laundering risk assessment, which is viewable here (the casino section starts on page 74), although be forewarned that it often reads like...
- US Treasury wants casinos to monitor sportsbooks for ‘red flags’
December 23, 2014
The US Treasury Department intends to keep a sharper eye on the money flowing through casino sportsbooks in order to guard against potential illegal betting. On Tuesday, Reuters quoted two sources saying the Treasury’s Financial Crimes Enforcement Network (FINCEN) will spell out certain ‘red flags’ in betting activity that casinos...
- New casino vetting process for high rollers being discussed
March 28, 2014
The US Treasury Department is concocting a new rule for US casinos that could essentially turn the entire fabric of the casino industry upside its head. According to Reuters, a measure is being discussed by the Treasury Department to require US casinos to investigate where the funds of high rollers...
- Mt.Gox registers business with the FinCEN
July 1, 2013
In what could be the surest sign that Mt. Gox, the world's largest Bitcoin exchange, is taking a serious approach to comply with US money-laundering regulations, the Tokyo-based company has registered as a money services business with the US Treasury Department's Financial Crimes Enforcement Network, (FinCEN). The bitcoin exchange's registration...
New Japan law recognizes bitcoin as method of payment
March 31, 2017