Published: August 11, 2025
MONROVIA — The Financial Intelligence Agency of Liberia (FIA) has fined 50/50 Casino Inc. six million Liberian dollars (about US$31,000) for what it described as a “significant lack” of anti-money laundering and counterterrorism financing controls.
The penalty follows the FIA’s recent risk-based AML/CFT compliance inspection, which found the casino in gross violation of Liberia’s Anti-Money Laundering and Countering the Financing of Terrorism Act of 2021. The agency said the deficiencies expose Liberia to heightened risks of money laundering and terrorist financing.
The inspection, conducted from Oct. 9–15, 2024, assessed the adequacy of compliance programs in Liberia’s gaming sector, including policies, procedures and internal controls. The review also evaluated the level of inherent risk in casino operations.
According to the FIA’s findings, 50/50 Casino failed to conduct required customer due diligence, lacked a risk-based AML/CFT policy, and had no effective control program. The agency also cited serious weaknesses in the casino’s customer onboarding process and an ineffective monitoring system for detecting unusual or suspicious transactions.
The FIA ordered the casino’s management to submit an action plan with clear timelines for corrective measures no later than Sept. 1, 2025. All deficiencies identified in the compliance report must be addressed, and mitigation measures adopted to reduce the risks of money laundering, terrorist financing, and proliferation financing, by Nov. 1, 2025.
The agency warned it will take further supervisory action if 50/50 Casino fails to meet its obligations under Liberia’s AML/CFT laws.
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