MONROVIA – The Monetary Intelligence Company of Liberia (FIA) has fined 50/50 On line casino Inc. six million Liberian {dollars} (L$6,000,000) for what it calls a “vital lack” of Anti-Cash Laundering and Countering the Financing of Terrorism (AML/CFT) controls — a failure the company says exposes the nation to cash laundering and terrorist financing dangers.
The penalty follows a risk-based AML/CFT inspection of Liberia’s gaming sector carried out October 9–15, 2024. Inspectors discovered 50/50 On line casino in gross violation of the AML/CFT Act of 2021, together with failure to hold out buyer due diligence, absence of a risk-based compliance program, weak buyer onboarding procedures, and ineffective transaction monitoring.
The FIA cited breaches of Part 15.3.2 of the legislation, which requires casinos to establish and confirm clients and implement safeguards towards monetary crime.
Along with the positive, the FIA has ordered 50/50 On line casino to submit an in depth remediation plan by September 1, 2025, and totally deal with all recognized deficiencies by November 1, 2025. The company warned it should take additional supervisory motion if compliance is just not achieved.
