CTR for low income people

Quote: darkoz

So I am pretty certain it is not the redemption machine doing the tracking but the slot at cashout.

Since people tito all day long between machines I am guessing they amount of cashout goes into a limbo state or potential state. Put it into another slot and the tracking continues. Put it into a redemption machine and the potential info becomes kinetic and is sent to the mainframe for aggregate accounting.

Anyway, hope that helps explain a bit how it works.

It is the player tracking system that is keeping all of the records.

Putting a TITO in a slot machine has no bearing on a CTR as the slot machine doesn't give cash. A CTR is only for CASH changing hands. When you redeem a TITO at the cage or kiosk you are getting cash, that is what they are interested in.

I teach classes to casinos on Title 31 and the Bank Secrecy Act. I probably have a better understanding than most people here.

DRich, could i get your opinion a T31 question? There has been some talk regarding an update to the AML/BSA regulations and currently there is a bill being discussed in, I think, committee so far. It looks like they are trying to modernize the regs a bit and there has been some talk of raising the limits. Do you think this has a decent chance of moving forward and have you heard of what they may be discussing regarding any limit change? It would be nice if they could raise that $10,000 limit to around $20,000, it would relieve some of the burden that this law places on many of the smaller casinos.

Sorry if this is considered a thread hijacking.

Quote: MaxPen

Was this the tax expert you consulted?

I would definitely use this one:

Quote: DRich

I teach classes to casinos on Title 31 and the Bank Secrecy Act. I probably have a better understanding than most people here.

those who can't, teach.:-) :-) :-)

Quote: darkoz

With kiosk restrictions at $3000 we would cash out at $2700. So it took four cashouts to exceed $10,000.
After the 4th cashout, the players card locked. No points were accrued and a message said go see customer service

The other players card had the exact same coin-in and wagers but triggered nothing.
Therefore we can conclude feeding money to the casino is not considered a cash transaction (whether it sounds ridiculous or not)
Cashing out from a casino redemption machine is considered cash transactions and with a players card they keep aggregate reporting.
So I am pretty certain it is not the redemption machine doing the tracking but the slot at cashout.

I guess if you lost more than 10k, the casino is not interested in CTR, but if you cashed out more than 10k, then it's triggered.

You had the card inserted while pressing the cash out button.
How about you pull the card out, then press cash out? If do it that way, would that voucher still associates with the players card?

Quote: ReyGarcia

I guess if you lost more than 10k, the casino is not interested in CTR, but if you cashed out more than 10k, then it's triggered.

You had the card inserted while pressing the cash out button.
How about yoIfu pull the card out, then press cash out? If do it that way, would that voucher still associates with the players card?

If you buy in more than $10,000 in cash, casino wants ID.

Quote: speedycrap

If you buy in more than $10,000 in cash, casino wants ID.

Not electronically.

Thats table games

Quote: ReyGarcia

I guess if you lost more than 10k, the casino is not interested in CTR, but if you cashed out more than 10k, then it's triggered.

You had the card inserted while pressing the cash out button.
How about you pull the card out, then press cash out? If do it that way, would that voucher still associates with the players card?

That i am not certain about.

If I think of an anecdote that helps I will post

Quote: darkoz

Not electronically.

Thats table games

Thanks for the info

Quote: waasnoday

DRich, could i get your opinion a T31 question? There has been some talk regarding an update to the AML/BSA regulations and currently there is a bill being discussed in, I think, committee so far. It looks like they are trying to modernize the regs a bit and there has been some talk of raising the limits. Do you think this has a decent chance of moving forward and have you heard of what they may be discussing regarding any limit change? It would be nice if they could raise that $10,000 limit to around $20,000, it would relieve some of the burden that this law places on many of the smaller casinos.

Sorry if this is considered a thread hijacking.

Sorry, I know there are discussions going on but I really don't know a lot of the details. At one time last year they were talking about changing the limit to $30,000 for CTR's and $10,000 for SARs.

Quote: darkoz

Not electronically.

Thats table games

ow

Yes, even electronically they are required to ask for ID when they know that you have crossed the $10k. In practicality, they usually don't know until much later.