Casinos, the Federal Government and AML (FinCEN)
Since 2013, when the leader of the Financial Crimes Enforcement Network (FinCEN) chastised the gaming industry at G2E for not being proactive enough to fight money laundering, this has become a priority in gaming. Since that time, according to the latest head of FinCEN, the industry has made vast improvement and has been cited as a model in the money laundering battle. Greg Lisa served as the Chief of the MSB and Casinos Section, and then the Interim Director of the Office of Compliance and Enforcement, and earlier served at the Office of Enforcement at the Consumer Financial Protection Bureau. He will outline the current efforts at FinCEN and within the industry to curtail all money laundering at online and land-based casinos.
Speaker: Gregory Lisa, Partner, Hogan Lovells US, LLP
Moving Money: Why Payment Processing is Crucial to Industry Success
If society runs on cash, then casinos are the kings. But regulations, AML laws, and often just “it’s the way things are done” make it somewhat clumsy to accept or disburse payments. Casino patrons cannot use credit cards in the traditional way other industries do, so what is the solution? At this session hear from experts on the unique ways that casinos are finally moving into the 21st century by using e-wallets, pre-loaded debit cards and other electronic methods that consumers can trust and understand. Speakers will explain how to reduce overhead and how to better manage the cash using products that are offered today.
Moderator: Tim Richards, Chief Product Strategy Officer, Everi Holdings Inc.
Speakers: Joe Pappano, Senior Vice President, Worldpay
Kurt Williams, Co-Founder and CEO, Casino Cash Trac
Alvin Zayas, Director of Cage & Credit Operations, Pechanga Resort & Casino
iGaming Payments: Online All The Time
One of the biggest hurdles to the success of online gaming—and now mobile sports betting—is the acceptance of credit cards. Many of the largest card issuers, including JPMorgan Chase, Citigroup and American Express, still don’t allow their cards to be used for online gambling or sports betting. Conflicting federal and state laws are part of the problem, but there are also concerns about what might happen if the credit card holder failed to pay. At this session, hear about the latest trends in online gaming payments and how the recent legalization of sports betting may move the process along more quickly.
Moderator: Angela Segovia, Director, Product Marketing, Everi Payments
Speakers: Christopher Justice, President, Global Payments Gaming Solutions
Omer Sattar, Co-Founder and Executive Vice President of Strategic Initiatives, Sightline Payments LLC
EPISODE SPONSOR: Everi
SUPPORTING SPONSOR: Global Payments
