12/23/2023 0 Comments Bicycle casino live camThe casino failed to file Currency Transaction Reports (CTRs) and Suspicious Activity Reports for Casinos (SARCS) that are required under the BSA, a law intended to thwart money laundering.įederal prosecutors entered into the NPA in recognition of the Bicycle’s remedial efforts to strengthen its anti-money laundering program, as well as its acceptance of responsibility, cooperation with authorities during this investigation, and agreement to make a $500,000 payment. LOS ANGELES – To resolve an investigation into alleged violations of the anti-money laundering provisions of the Bank Secrecy Act (BSA), the partnership that operates the Bicycle Hotel & Casino in Bell Gardens has agreed to pay $500,000 and undergo enhanced review and reporting requirements designed to prevent future violations of federal law.Īccording to a Non-Prosecution Agreement (NPA) with federal prosecutors, the Bicycle accepted responsibility for failing to properly file reports for a foreign national who conducted millions of dollars in cash transactions at the casino in 2016.
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