See full list on tier1fin.com. Jan 21, 2016 The influential international body that grades countries' efforts to prevent money laundering recognized casino gaming companies' significant investment in anti-money laundering (AML) efforts, reporting that the industry 'has good understanding of risks and obligations,' puts in place 'mitigating measures above the requirements' of the Bank Secrecy Act (BSA) and has shown 'an increased focus.

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Jun 07, 2021 Australia’s anti-money-laundering agency on Monday widened a probe into due diligence at casinos to include the three biggest operators, ratcheting up pressure on a sector already struggling. Eby appointed Peter German, a former deputy police commissioner and leading expert on money laundering, to conduct a six-month investigation into allegations of money laundering in the Lower Mainland casinos after reports emerged that one Vancouver-based casino accepted $13.5 million in $20 bills over the course of one month in 2015. Best Practices for Anti-Money Laundering Compliance 4 casino cage activity, including credit (or marker limit) and front-money transactions. To detect and report suspicious activity, casino employees and supervisors must make complex, nuanced judgments based on readily available information about a patron’s activities.

Mission146

I am really curious about this Axelwolf mystery machine and casino.
Don't we ALL agree that you should NOT get a W2G just for cashing out your own money without any play?
I'm not including the part about getting a CHECK because that will vary casino by casino.

Yes, I unequivocally agree that should not happen. Things that 'shouldn't happen' do happen every day and just about everywhere.

https://wizardofvegas.com/forum/off-topic/gripes/11182-pet-peeves/120/#post815219

billryan

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I want to clarify that MDawg can make whatever proposal for a bet he wishes, that's not what I'm saying. I'm just saying that proposing a ridiculously one-sided bet in a public post is never a good look for anybody.

That's nice of you to worry that a guy whose entire existence seems based on making improbable claims might sully his reputation by making a silly bet.billryan

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Would, or perhaps could a casino employee get in trouble legally for distributing such a paper? Is it illegal to conspire with a casino employee to generate these forms? Why would a person want these fraudulent forms? Are we still pretending a drug dealer would try to establish phony income in a casino?

DRich

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DRich,
If the casino can't keep up to ask me questions as I sit for four hours at the same machine pulling $200 per spin chasing a MH, trust me, they just don't care where I got the money

I agree, the casinos don't care where the money came from but FINCEN does.

Order from chaos

DRich

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https://treepark.amebaownd.com/posts/22838885. Yes, I unequivocally agree that should not happen. Things that 'shouldn't happen' do happen every day and just about everywhere.

I have never seen anyone get a W2G for cashing out. W2G are given for jackpots.

Order from chaos

MDawg

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It's been a while since that particular case, but that isn't the only time. It's a moot point since it doesn't matter if it was 100 years ago or 1 day ago. What matters is if it's possible or not.

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The relevance in how long ago this happened is:
1. My general feeling that what you have to say on this subject of getting checks from casinos is antiquated because it dates from the past.
2. The anti-money laundering laws as Vegas casinos have applied them have changed a lot over the years. Prior to 1996, you probably could have somehow exchanged even over 2500 in cash to a check at a casino. Starting in 1996, no Nevada casino would allow more than 2500 cash to be converted to casino check.
And, Sometime between 1996 and today, the Vegas casino policies changed such that not even one penny of un-played cash may be converted to casino check.

I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.

AxelWolf

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Still a moot point. What is supposed to happen doesn't always happen. You claim it's impossible, I claim it is possible. I'm not going to lay it out for you how it's possible.

♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪

MDawg

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It is not a moot point whatsoever. I contend that it is impossible TODAY to go into a Vegas casino and convert unplayed cash into casino check. What you might have done years ago is irrelevant.
And that you are refusing to disclose how long ago this witnessed incident happened, seems to tell me that it happened a very long time ago, when casino regulations might have been quite different and much more lax. Plus you didn't even GET a check in that witnessed incident, you merely claim that you 'could have.'

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I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.

AxelWolf

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Again, I'm not talking about the past, I'm talking about what's possible TODAY, therefore it's a moot point as it doesn't matter how long ago it was.
FYI within the last month, a location tried to give me a W2G when I cashed out accumulated credits, I had to explain to them it wasn't a taxable jackpot and why.

AxelWolf

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