MONEY LAUNDERING CONCERNS FORCE LAS VEGAS CASINOS TO FOLLOW FEDERAL RATHER THAN STATE CONTROLS
May 1st, 2007
BY LUCY JONES, in DallasFive years after the terrorist attacks on the World Trade Centre a major overhaul of Nevada's anti-money laundering laws has effectively transferred regulation of the gambling industry from state to federal hands. From July 1st this year, casinos in Nevada will have to abide by the federal statute, Title 31, instead of Regulation 6A, a state law, which has been in place for more than 20 years. The change is the result of the Patriot Act, which has tightened regulations on financial transactions in an attempt to cut the flow of funds to ...
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