The U.S. Financial Crimes Enforcement Network (FinCEN) and Caesars Palace agreed on an $8 million fine to settle a dispute caused by Caesars' "willful and repeated violations of the Bank Secrecy Act (BSA)."
In a statement issued Wednesday, the FinCEN explained that Caesars Palace has also been requested to change their policies against fraud and money laundering, and "conduct periodic external audits and independent testing of their anti-money laundering (AML) compliance program".
In addition, Caesars Palace will have to report to FinCEN on mandated improvements, adopt a rigorous training regime, and engage in a "look-back" for suspicious transactions.