Cash Cage Hassles

[anglinw]

Does anyone know why Vegas casinos are demanding ID and comp cards for chip cashing at or below $10,000? We all know about the dredded "Currency Transaction Report by Casinos -- Navada," (IRS Form 103-N,) but why is it now such a hassle to cash in less than this in chips? In the last few months I have had to produce ID for as little as a $1,200 worth of chips to get the cash. Is there a new State, Federal, or IRS law that was not widely published about cash-out transactions in casinos? God help you if you don't have a comp card for the casino. The cashier goes stomping off, talks to the supervisor, makes phone calls, enters info from your drivers license into the computer! Does anyone know what's going on?! . . .Ken, Kevin, anyone?

[newyorkbear]

In addition to the $10,000 rule,casinos are supposed to check on suspicious activities designed to circumvent the 10,000 rule. What is a suspicious activity?Much like pornography,it is something you know when you see it.
Some casinos file SARs just for beating them,it seems.
Its suppose to alert the government to drug dealers who cash in large amounts of small bills,buy chips and cash out for big bills,aka money laundering.

[anglinw]

SAR's make some sense, but that cannot be the only reason. Do most casinos now regard chip cash-outs as suspicious activity? I really don't think I give the appearance or impression of being a suspicious money launderer or drug dealer, (37, male, collared shirt, dockers, florsheims, fake Rolex & diamond wedding ring, mild southern accent, decent grammar).

I can't be the only one occasionally cashing out $1200 to $10,000 in chips out there, (if so, I'm on the wrong message board)!

Has there been some policy change or new law inacted recently?

Am I being singled out or has anyone else been hassled at the cash cage?

[KenSmith]

Many casinos have long used $3000 as the limit before asking for ID. Remember, they're supposed to file a CTR on anyone who transacts $10K or more in a 24 hour period. They're assuming you may back with more later.

However, $1200 seems extreme. At which casinos have you encountered this?

[anglinw]

Barbary Coast and The Plaza both got my ID for cash-outs under $1800.

The $3000 mark makes sense for tracking puposes, although it does not seem to be the case in Atlantic City. A. C. just hands over the money up to and including $10,000 (at least at The Borgata). They only ask about markers, and have, so far, never demanded ID.

As I look at it, the CTR instructions page does have the "within a 24 hour period" language. That must be it.

Thanks.

[anglinw]

Correction: Barbary Coast and The Plaza both required ID for $1200 chash-outs. Barbary Coast even "suggested" that I not come back. I won't.

[PokerJunky]

I also encountered the same situation at the Luxor when I cashed +1200

[newyorkbear]

I read somewhere that Mandalay Bay casinos and The BC were both sweating people that cashed out. I believe it was in Comp City,but not sure.