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So far, tribal casinos have escaped unscathed from multi-million dollar fines assessed against their commercial counterparts for failing to prevent money laundering, but the scrutiny of regulators all over the world is increasing and so is the cost of maintaining programs to prove compliance.

The crackdown commenced on August 27, 2013 when Las Vegas Sands agreed to pay $47.4m to avoid federal charges for failing to report suspicious gambling transactions by an alleged drug kingpin from China.

In September 2015, U.S. and Nevada regulators fined Caesars Entertainment Corp. $9.5m for deficient anti-money laundering (AML) controls at its operations in Asia and Las Vegas.

From 1998 to August 2013, there were four fines totaling about $3m for AML...

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DEBT COLLECTION BY SALES ANTIDOTE'S KINUM SERVICE- WE MAKE SIMPLE AND COST EFFECTIVE

A Third Party Collection Agency For Any Industry
We service a wide array of industries, all with one goal in mind: to help the business get the money it is owed and it needs in order to thrive. Regardless of the type of business or organization, you run, or whether your collection accounts are for B2C or B2B, the Kinum accounts receivable collection agency can help you maximize debt recovery.

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Learn more about SAK SAK GETS TWO MORE POSITIVE REVIEWS FROM CREDIT UNIONS - SEE BELOW

www.salesantidote.com/kinum

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FIVE STAR REVIEW FOR CREDIT UNIONS

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Contributing authors: Paul Havalchak,

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The US Treasury Department has launched a global ANTI-MONEY LAUNDERING (AML) campaign in an attempt to stop billions of dollars from being laundered into financial systems and is hoping for assistance from the governments in Beirut, Cyprus, Singapore and Dubai to ensure its success.

The campaign was originally created under former US President Barack Obama’s administration and was headed by Marshall Billingslea, Assistant Secretary for Terrorist Financing and Financial Crime but it is now being aggressively used by current US President Donald Trump in an effort to prevent illicit funds from China, Iran, and Russia from leaking into French and UK real estate, German banks and the Gulf states. Banks located in countries notorious for ...

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The federal government on Friday said that it has fined a California-licensed card room $8 million over “willful violation of anti-money laundering controls.”

A government body known as the Financial Crimes Enforcement Network (FinCEN) announced the civil money penalty against Artichoke Joe’s Casino, a card room equipped with 17 traditional poker tables and about three dozen other card tables. It’s one of about 90 licensed card rooms in the state.

FinCEN said that the casino violated federal anti-money laundering laws from 2009 to this year. “For years, Artichoke Joe’s turned a blind eye to loan sharking, suspicious transfers of high-value gaming chips, and flagrant criminal activity that occurred in pla...

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SAK PROOF OF CONCEPT FOR AML COMPLIANCE

Most solution providers will sound alike and even look alike on the surface. In our experience, this
couldn’t be further from the truth. The only way to see the difference and understand the true
value of a risk screening solution is in the real world, with tangible and actionable results. We call this a ‘Proof of Concept’ (POC).

This POC exercise is simple, does not take a lot of time, and is free. The basic concept for a POC is that we will arrange to securely get a sample of client records, process those through the screening platform against various risk databases, and provide back several key deliverables:

• Source data analysis and recommendations• Various metrics on h...

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Western Union, the largest money transfer service in the world, made waves earlier this year when it confirmed that it had partnered with Ripple to conduct a blockchain trial involving the XRP cryptocurrency.

However, six months into that test, Western Union CEO Hikmet Ersek said that the firm has yet to see any real cost savings that warrant overhauling its system to use XRP for cross-border payment settlement.

“We are always criticized that Western Union is not cost-efficient, blah blah blah, but we did not see that part of the efficiency yet during our tests,” Ersek told Fortune. “The practical matter is it’s still too expensive,” he added, without going into detail.

Ersek, who was in New York to give a spee...

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The ongoing bitcoin price recovery might be short-lived and prices may suffer another retracement, but falling prices will be temporary and bitcoin remains a solid investment in the near-term.

This was the investment opinion of Blockchain Capital partner Spencer Bogart, speaking to Melissa Lee on CNBC’s “Fast Money” this week. The venture capitalist, who has consistently maintained that bitcoin is a “screaming buy” said that he believes there will be downward pressure on the bitcoin price in the next few months due to a coming supply glut caused by crypto funds exiting their lockdown period.

Nevertheless, he said, bitcoin remains the most solid asset in the crypto space because it has a unique combination of m...

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