Liberia’s Financial Intelligence Agency (FIA) has taken decisive enforcement action against 50/50 Casino, imposing a fine of L$6 million due to serious violations of anti-money laundering (AML) regulations. This move is part of a wider crackdown on financial institutions and casinos in Liberia to strengthen compliance with the country’s AML and Countering the Financing of Terrorism (CFT) laws enacted under the 2021 AML/CFT Act.
Background on FIA’s AML Enforcement in Liberia
The FIA of Liberia plays a critical role in safeguarding the integrity of the Liberian financial system by enforcing compliance with AML/CFT laws. These laws require various sectors, including casinos, to have robust mechanisms to identify, assess, monitor, and mitigate risks related to money laundering and terrorist financing. Failure to comply with these regulations exposes institutions to significant penalties, as the FIA intensifies scrutiny over vulnerabilities that could facilitate illicit financial flows.
The Fine Imposed on 50/50 Casino
Following a detailed risk-based compliance inspection, the FIA identified serious shortcomings within 50/50 Casino’s AML controls. The agency levied a monetary fine of L$6 million against the casino for failing to fulfill critical AML obligations. These lapses potentially increase the risk of the casino being exploited for money laundering and terrorism financing activities.
The violations reportedly include breaches of key sections of the AML/CFT Act of 2021. Specific details point to the casino’s failure to implement adequate risk management measures such as identifying and monitoring money laundering risks related to customers, products, services, and delivery channels. Moreover, the casino lacked an independent AML/CFT compliance function and failed to designate a compliance officer, which is mandatory under the law.
This regulatory action against 50/50 Casino underscores the FIA’s commitment to enforcing AML standards rigorously, signaling to the financial and gaming sectors that compliance is non-negotiable.
Broader Context: Other Casinos Fined for AML Lapses
The enforcement against 50/50 Casino is part of a series of recent actions where the FIA has imposed significant fines on other casinos in Liberia for similar AML/CFT compliance failures. For example:
- Oceano Casino was fined L$10 million for severe lapses, including failure to identify and assess money laundering risks, absence of a designated compliance officer, and an outdated AML policy not aligned with mandated standards.
- Golden Casino and Riverside Casino each received fines of L$10 million for failing to demonstrate adequate AML controls such as ongoing transaction monitoring, suspicious activity reporting, and independent audits to ensure AML effectiveness.
These actions follow comprehensive investigations and risk-based inspections conducted by the FIA from late 2024 through early 2025. The FIA continues to demand corrective action plans and timelines from these institutions to remediate identified weaknesses and enhance their AML frameworks.
Statements from the Financial Intelligence Agency
The FIA’s leadership emphasized the importance of robust AML/CFT compliance to protect Liberia’s financial sector from abuse by criminals and terrorists. The agency stated that the imposed fines and required remedial measures demonstrate its zero-tolerance stance on AML violations. It further warned that it would continue to conduct rigorous inspections and take supervisory actions, including additional penalties, if institutions fail to comply fully with the AML/CFT Act requirements.
The FIA also highlighted that these enforcement measures strengthen Liberia’s compliance with international standards, increasing confidence among domestic and international stakeholders in the country’s financial integrity.
Implications for the Casino Industry in Liberia
The penalties against 50/50 Casino and others send a strong message to the gaming industry in Liberia. Casinos must prioritize AML/CFT compliance, establish independent compliance functions, update their AML policies in line with current risk-based standards, and implement effective customer due diligence and transaction monitoring procedures.
Failure to comply could lead not only to steep fines but also to reputational damage, increased regulatory scrutiny, and potential operational restrictions.
What This Means for Anti-Money Laundering Efforts in Liberia
This enforcement wave reflects the FIA’s broader strategy to bolster regulation and oversight of sectors vulnerable to money laundering. Casinos, due to the high volume of cash transactions and the nature of gaming activities, are particularly susceptible. Stringent AML controls are critical to prevent these venues from being misused by criminals for laundering illicit proceeds.
By holding casinos accountable and requiring clear action plans for remediation, the FIA aims to elevate the overall AML standards across Liberia’s financial ecosystem, ensuring it aligns with global best practices.
AML Editor’s article was originally published in focusgn on 08/13/25