FinCEN assesses $900,000 civil money penalty against Lake Elsinore Hotel and Casino for BSA violations

As part of its resolution with FinCEN, Lake Elsinore admitted to willful violations of the BSA, including failing to implement and maintain an effective AML program, failing to file currency transaction reports (CTRs) and suspicious activity reports (SARs), and certain recordkeeping failures. In addition to the civil money penalty, Lake Elsinore will also be subject to an AML program review….