Part III: Business & Regulation · Gaming Regulation & Compliance

Independent Testing / Independent Audit

Compliance

An objective review of a casino’s AML program conducted by qualified independent personnel (either internal or external) who are not involved in the day-to-day operation or oversight of the program being tested. Independent testing assesses the adequacy of internal controls, evaluates compliance with BSA/AML requirements, tests transaction monitoring and reporting systems, reviews recordkeeping practices, and identifies deficiencies requiring corrective action. The scope and frequency of independent testing should be commensurate with the casino’s risk profile, and testing must be conducted at least annually.

One entry from the Casino Industry Glossary — 1,157 terms written for surveillance, compliance and operations professionals rather than for players. Definitions describe industry usage; where a term carries a regulatory meaning, verify against the instrument that governs your jurisdiction.