Bicycle Casino

CA 2021 Community Banks / Credit Unions

DOJ Fraud

Penalty

$100 million

Outcome

Bicycle Casino Agrees to Pay $500,000 Settlement and Submit to Increased Review of Anti-Money Laundering Compliance Program

Details

Bicycle Casino — DOJ Enforcement (2021)

DOJ took enforcement action against Bicycle Casino in CA in 2021 involving fraud violations in the Community Banks / Credit Unions sector.

Penalty: $100 million

Violation types: Fraud
Entity type: Financial Institution
Penalty type: Criminal
Location: CA

Source: DOJ Press Release — Bicycle Casino Agrees to Pay $500,000 Settlement and Submit to Increased Review of Anti-Money Laundering Compliance Program

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Bicycle Casino Agrees to Pay $500,000 Settlement and Submit to Increased Review of Anti-Money Laundering Compliance Program

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