Regulatory Alerts2007-06-21
Added
Amendments to Bank Secrecy Act Regulations - Casino Recordkeeping and Reporting Requirements
The Financial Crimes Enforcement Network amends 31 CFR Part 103 to exempt jackpots from slot machines and video lottery terminals from casino currency transaction reporting requirements. The rule also exempts certain transactions between casinos and currency dealers, exchangers, or check cashers, and provides additional examples of cash in and cash out transactions. These amendments apply to casinos and card clubs subject to the Bank Secrecy Act and become effective on June 26, 2007.
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