MONROVIA, Aug. 12 -- The Financial Intelligence Agency of Liberia (FIA) has fined 50/50 Casino Inc. six million Liberian dollars (L$6,000,000) for what it calls a "significant lack" of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) controls - a failure the agency says exposes the country to money laundering and terrorist financing risks.

The penalty follows a risk-based AML/CFT inspection of Liberia's gaming sector conducted October 9-15, 2024. Inspectors found 50/50 Casino in gross violation of the AML/CFT Act of 2021, including failure to carry out customer due diligence, absence of a risk-based compliance program, weak customer onboarding procedures, and ineffective transaction monitoring.

The FIA cited bre...