Major Law Change

[EdgeCapper]

Starting July 1st Nevada Gaming will no longer be the ruling authority over cash transaction procedure. The process will now be governed by the IRS and major changes include the following:

1. No more "Money Plays"
Reason for this is because when a player makes a wager, it is now property of the casino until the end of the hand. So a $5000 money plays that wins is actually a $10,000 transaction according to the law. $5000 win, plus $5000 cashout when you take your money back. All cash must now be changed for chips before wagering. This is mainly a casino policy change to make it easier to keep track of total transaction amount and is expected to be the standard in all Las Vegas casinos.

2. No more Regulation 6A
Nevada Gaming will have nothing to do with tracking cash transactions anymore.

3. Social Security Number required along with copy of ID for transactions exceeding $10,000
Just an ID is no longer enough, you must provide SSN

4. Automatic filing of Suspicious Activity Report (SAR) to FINCEN, http://www.fincen.gov/ , upon refusing to surrender ID.
If asked for an ID and you refuse, your picture along with any information known about you will be included in a SAR. When a SAR is filed, it is common to send the information to other casinos around town so it is best to avoid this situation.

This information was given to me by management at my current casino and is everything I know so far. I will let you all know about any other changes as I find out.

I know this is bad news for some, but I hope this helps you avoid any future problems.

EC

[shadroch]

4. Automatic filing of Suspicious Activity Report (SAR) to FINCEN, http://www.fincen.gov/ , upon refusing to surrender ID.
If asked for an ID and you refuse, your picture along with any information known about you will be included in a SAR. When a SAR is filed, it is common to send the information to other casinos around town so it is best to avoid this situation.

This information was given to me by management at my current casino and is everything I know so far. I will let you all know about any other changes as I find out.

I know this is bad news for some, but I hope this helps you avoid any future problems.

EC[/QUOTE]


Are you certain of this? The SAR is an official government form that triggers an investigation.I would think it is illegal to share any information with non-goveernment entities.

[KenSmith]

Ugh. Thanks for posting this info. I'll see what else I can dig up.

[RJT]

Shadrock,
I seem to remember reading that it was fairly common practice already, although i don't play in the states so i've not investigated this in any depth. Alongside this while the SAR may be a government document the casino is well within its rights to share player information about any player who they deem worthy of watching, so sending over pictures ect ect is far from a grey legal area. It would be illegal to share the SAR form with other casinos but not the information on it.

RJT.

[EdgeCapper]

Originally Posted by RJT

Shadrock,
I seem to remember reading that it was fairly common practice already, although i don't play in the states so i've not investigated this in any depth. Alongside this while the SAR may be a government document the casino is well within its rights to share player information about any player who they deem worthy of watching, so sending over pictures ect ect is far from a grey legal area. It would be illegal to share the SAR form with other casinos but not the information on it.

RJT.

You can be almost sure the info will be shared with other casinos owned by the same parent company. If your activity really stands out, it will be sent all over the place. Where I used to work, we'd get info sent all the way from Reno sometimes, but it was usually about serious crimes like identity theft or card markers.

[EdgeCapper]

SSN and ID will be processed electronically on the spot for validation. The law requires transactions of over $10,000 to obtain ID, BUT casino policies can differ and any refusal of ID, whether cashing out $2000 or $10000, will result in a SAR. My casino is requiring IDs and SSNs for $4000 and over buy in or cash out and already we're filing SARs and the law hasnt even taken effect yet. Were just starting early so we get used to it.

[ihate17]

Is a SAR to be filed when ID is refused when we are talking about a cash out or any refusal.
Go to cash your $4,000 in chips and they want ID & SSN, you refuse, I understand they generate a report.

Casino security is going to back you off of blackjack, or 86 you and ask for your ID and SSN, you refuse, does this now also generate a SAR? Better yet, you are losing, they back you off and you foolishly go to the cage to cash out your remaining $47 in chips, they ask for ID and SSN, and you refuse, what now?

ihate17

[shadroch]

Filing an SAR under those circumstances is a complete abuse of the law.



Anyone wanting to know more about SARS can simply google it.

[shadroch]

Originally Posted by RJT

Shadrock,
I seem to remember reading that it was fairly common practice already, although i don't play in the states so i've not investigated this in any depth. Alongside this while the SAR may be a government document the casino is well within its rights to share player information about any player who they deem worthy of watching, so sending over pictures ect ect is far from a grey legal area. It would be illegal to share the SAR form with other casinos but not the information on it.

RJT.

I believe informing anyone but the Federal government about the filing of an SAR is illegal.
SARs are not to be treated lightly.They are intended to catch money launderers,drug dealers,smugglers and terrorists.
Do you think a bank will look fondly on your mortage application if it sees you are the subject of federal money laundering investigations on a regular basis?

[EasyRhino]

A bank won't know that a SAR has been filed by a another institution.

Even within the same bank, a lending officer won't know that a SAR has been filed, as that information is supposed to be highly compartmentalized.

I don't think it's the SARs that advantage players have to worry about from casinos, it's other forms of douchiness.