OFAC Compliance for Casinos
Wednesday, May 5, 2010
2 p.m. CST
View recording of this Web Seminar
In 2007, the National Indian Gaming Commission (NIGC) issued Bulletin No. 2007-3 “Office of Foreign Asset Control (OFAC) Compliance,” explaining that casinos should comply with OFAC regulations. Yet, two years later, many gaming properties still do not understand the specific requirements of the regulation as they relate to casino products and services.
The NIGC stated in the Bulletin, “We urge all Tribal gaming operators and regulators to take this matter seriously and include OFAC requirements as part of their overall compliance program.”
Although sometimes confused with Title 31 (Bank Secrecy Act) compliance, OFAC compliance requirements are different, and address services, such as:
- Cash (front money) accounts
- Credit accounts
- Electronic fund transfers on behalf of a foreign national
- Money transfers to high-risk countries
This webinar is for gaming casino personnel, Tribal gaming commissions, and compliance or internal audit personnel who are interested in expanding their understanding of the OFAC regulatory requirements and practical application to their operations.
