Title 31 Casino Checklist
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The following are typical regulations posted by most, if not all, United Statescasinos.
The following types of cash-in (customer to casino) transactions are to be reportedwhen the total (single or aggregated) exceeds $10,000 in a 24 hour period.
Insights into the intent of Title 31 and information on the reporting and recordkeeping requirements for casinos. FinCEN develops answers to Frequently Asked Questions to assist in complying with the responsibilities under the Bank Secrecy Act (BSA). Title 31 of the Bank Secrecy Act requires that casinos report cash transactions in excess of $10,000. Whenever transactions between a customer and the casino exceeds $10,000 in cash-in or cash-out in a 24 hour gaming day a Currency Transaction Report (CTR) must be filled by the casino with the Internal Revenue Service.
- Currency for currency exchanges
- Tournament of other player buy-in
- Cash buy-ins at the table games
- Cash wagers
- Any other cash-in transactions
The following types of cash-out (casino to customer) transactions are to be reportedwhen the total exceeds $10,000 in a 24 hour period.
- Check cashing
- Cashing out of gaming chips or tokens
- Jackpot payouts
- Currency for currency exchanges
- Tournament of other cash payouts
- Any other cash-out transactions
The casino is legally obligated to comply with these regulations. Please keep this inmind if an employee of the casino requests information from you in an effort to complywith the regulations. Your cooperation is greatly appreciated.
Title 31 Casino Test
Title 31 of the Bank Secrecy Act requires that casinos report cash transactions inexcess of $10,000. Whenever transactions between a customer and the casino exceeds $10,000in cash-in or cash-out in a 24 hour gaming day a Currency Transaction Report (CTR) must befilled by the casino with the Internal Revenue Service. In addition to the amount of thetransactions, the CTR must also include:
- Customer name
- Permanent Address
- Social Security Number
Title 31 Casino Test Answers
The casino must verify your identity via a drivers license, passport or other form ofpicture ID. The law also requires that all cash-in transactions be aggregated together. Inaddition, the law requires that all cash-out transactions be aggregated together. Cash-intransactions must be aggregated separately from cash-out transactions.
When an individual conducts a transaction on behalf of another customer, that person isconsidered an agent and information on both individuals must be records and verified.Casino employees are prohibited from advising customers on how to circumvent Title 31reporting.
Related links:WALDEMAR RATZLAF andLORETTA RATZLAF, PETITIONERS v. UNITED STATES - January 11, 1994
Last Update: 10/06/98
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