The Sparks Nugget, Inc., dba John Ascuaga’s Nugget, in Sparks, Nevada admitted to the willful violation of anti-money laundering (AML) provisions of the Bank Secrecy Act (BSA). These violations let to a penalty of $1 million. Sparks Nugget failed to establish and implement an effective AML program, failed to report suspicious activity, and failed to secure and retain certain required records. Sparks Nugget was found guilty of the following:

  1. Violations of the Requirement to Establish and Implement a Written Anti-Money Laundering (AML) Program
    1. Internal Controls
    2. Independent Testing
    3. Use of All Available Information and Automated Systems
  2. Violations of the Requirement to Report Suspicious Transactions
  3. Violations of the Requirement to Report Currency Transactions
  4. Violations of the Recordkeeping Requirements

FinCen News Release

Assessment of Civil Money Penalty

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