Wynn Las Vegas Faces $5.5 Million Fine Over Alleged Money Laundering Violations!
Wynn Las Vegas may end up paying the Nevada Gaming Control Board an estimated $5.5 million for purported offences of anti-money laundering rules.
The fine proposal was revealed in a press release on Thursday and is tied to a formal complaint filed by the NGCB implicating that former workers of the maintained luxury resort casino allowed foreign visitation for inappropriate methods of acquisition of money and transfer thereof in breach of the federal anti-money laundering protocols.
The report claims the action, which circumvented financial safeguards intended to detect and report suspicious activity, made it impossible for the casino to comply with their own internal anti-money laundering protocols.
The NGCB is expected to consider and approve the settlement at its next meeting, on May 22.
If the settlement goes through, it will be one of the larger fines imposed by the State Board in recent years, and it reiterates the commitment to compliance in the Nevada advantage gaming industry.
Wynn Las Vegas has not issued any public remarks on the complaint or proposed settlement.
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