24 NCAC 06A .0417. Anti-Money Laundering Monitoring

The Internal Controls shall implement anti-money laundering procedures and policies that adequately address the risks posed by Sports Wagering or Pari-Mutuel Wagering for the potential of money laundering and terrorist financing. At a minimum, the anti-money laundering procedures and policies shall provide for: (1) controls to assure ongoing compliance with the local anti-money laundering regulations and standards observed by the Commission; (2) up to date training of employees, including but not limited to contractors, affiliates, and similar personnel, in the identification of unusual or suspicious transactions; (3) assigning an Individual or Individuals to be responsible for areas of anti-money laundering by the Operator including reporting unusual or suspicious transactions; (4) use of automated data processing systems to aid in assuring compliance; and (5) periodic independent tests for compliance with a scope and frequency as required by the Commission. Logs of tests shall be maintained for five years.