By Amos Harris
The Financial Intelligence Agency (FIA) of Liberia has issued a L$10 million fine to Colony Casino for multiple breaches of the country’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws.
The sanction follows a risk-based compliance inspection conducted from October 10–14, 2024. The inspection reviewed the casino’s programs, policies, procedures, and controls as required by the AML/CFT Act of 2021.
The FIA’s report found that the gaming establishment, owned by Ziang Lizhuang and Daoud Rabani, had no internal program to prevent money laundering, failed to appoint a Compliance Officer, and lacked systems to monitor and report suspicious transactions.
“These failures represent a significant lack of control and expose the institution to a high risk of being used for money laundering and terrorist financing,” the FIA report stated.
In addition to the fine, the FIA has ordered Colony Casino to submit a detailed Action Plan outlining corrective measures and a clear timeline to Hon. Mohammed Nasser, the Agency’s Officer-in-Charge, by September 1, 2025.
The agency’s authority to regulate and enforce compliance, including imposing sanctions for violations, is outlined in the FIA Act of 2021 and the AML/CFT Act of 2021.
The FIA emphasized that all sanctions must be “proportional, dissuasive, and effective” to deter future breaches. This fine is one of the highest-profile penalties issued by the FIA as part of its ongoing crackdown on non-compliance within Liberia’s financial and gaming sectors.
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