Regulatory Alerts2009-09-30
Added
Frequently Asked Questions Casino Record keeping, Reporting, and Compliance Program Requirements
This guidance interprets Bank Secrecy Act regulations for U.S. casinos and card clubs, defining Nevada slot route operators as casinos if gross annual gaming revenue exceeds $1 million. Casinos and card clubs must file Currency Transaction Reports for transactions exceeding $10,000 in a gaming day, aggregate related transactions, and maintain internal controls for chip redemptions and customer identification. Suspicious Activity Reports are required for suspicious transactions of $5,000 or more, with ongoing reports filed every 90 days for continuing activity. The document also clarifies rules regarding information sharing under Section 314(b), record retention for five years, and the confidentiality of filed reports.
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