Representatives of the gambling industry, in particular casino operators, should more carefully follow the recommendations of the Financial Crime Prevention Network (FinCEN) regarding activities related to virtual currencies and report all cases of suspicious activity.
FinCEN Director Kenneth Blanco made the corresponding reminder during the 12th annual anti-money laundering conference in Las Vegas this week, Cointelegraph writes.
In terms of “convertible virtual currencies” (CVC), Blanco identified two areas where CVC intersects with casinos and card clubs. According to him, those who work with cryptocurrencies should develop an approach to conducting complex verification of transactions and analyzing the blockchain, as well as decide how they will include indicators related to CVC in their reports on suspicious transactions.
“I urge the casino to carefully study both documents on the FinCEN website in order to understand our approach to this industry and its interaction with other participants in the financial sector. Casino operators need to provide relevant reports when they encounter suspicious transactions, ”Blanco said.
Speaking about the importance of these measures, the Director of FinCEN also emphasized that casino operators are often targets for cybercriminals who carry out attacks with the aim of gaining a ransom and compromising company corporate mail.
FinCEN published this guide in May this year, which set out the principles of compliance of activities related to virtual currencies with the Bank Secrecy Law and legal regulations in the field of money transfers.
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