Fraud & Money Laundering
• Occupational Fraud: • The use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets. • Money Laundering: • A financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money.
Money Laundering
• Because of the cash-intensive nature of casinos, criminals may try to use them to launder money. • Tools:
• Bank Secrecy Act, MICS, & TICS require reporting of all significant transactions.
Homer Law, Chtd. 2013
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