Monrovia, May 6 -- The Financial Intelligence Agency of Liberia (FIA) has imposed significant monetary penalties totaling L$15 million Liberian dollars on Oceano Casino and Citi Trust Savings and Loans Liberia, Inc. for what it describes as "egregious violations" of Liberia's Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Act of 2021.

Oceano Casino has been fined L$10 million, while Citi Trust Liberia faces a L$5 million penalty. According to the FIA, both institutions failed to comply with critical AML/CFT obligations following comprehensive risk-based compliance inspections conducted between October 2024 and March 2025.

Major Failures at Oceano Casino

The FIA's inspection of Oceano Casino uncovered multipl...