U.S. Casinos May Soon Have To Vet High Roller FundsU.S. Treasury Department Wants Casinos To Better Look Out For Criminal Behavior |
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The U.S. Treasury Department may soon require casinos to vet where their high roller players get their money, according to Reuters.
It’s no secret that criminals can use casinos to launder illegally obtained cash to make it appear legit. Right now, casinos are required to report any eyebrow raising gambling activity, but its often in the property’s best interest to look the other way once large sums of cash hit the table.
Many casinos may feel that a background check will only force customers to look elsewhere for entertainment.
The new rule would require the casino to verify where a gambler’s funds came from before allowing them to make a wager or exchange cash for chips. The policy is currently being evaluated by the Financial Crimes Enforcement Network.
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