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Casinos may have to research high rollers' funds

Staff writer |
The U.S. Treasury Department is developing a requirement which would mean U.S. casinos would have to vet where high rollers' funds are coming from.

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The move is part of a push to address concerns that criminals are using casinos for money laundering, reports Online Casino Archives.

Casinos have to report suspicious activity, for example a customer who uses cash to buy a large number of chips, gambles for a short while and then cashes out with a casino check is likely to be reported to authorities.

The new rule, which is being put together by the Treasury's Financial Crimes Enforcement Network (FinCEN) unit, would make it necessary for casinos to look into the source of high rollers funds.

Casino operators have argued that gamblers would stay away from tables rather than submit to background checks. During the financial recession high-end baccarat players kept the Las Vegas strip afloat and gaming executives are worried about any disruption to business.


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