Casino Anti Money Laundering and Compliance

It’s not worth wasting my time discussing further something he claims was witnessed so long ago that he seems afraid to admit how long ago it happened. And even in that incident he doesn’t claim that he got a check, just claims that he could have.

Anyone who claims that it is possible to go into a casino and convert unplayed cash to casino check hasn’t tried it today.

Remember this is the same guy who was asking a gambler to “show me the CTR” to prove that he had won, shows how much he knows about any of this, apparently thought that a CTR was a piece of paper that is handed to the gambler on cashing out.

Axel asks for CTR once

Axel doubles down and asks for CTR again

What's interesting is that in the above examples he thinks there must be a CTR and mentions money laundering, so he is aware of the concept, and yet thinks it is possible to convert unplayed cash to casino check somehow.

Quote: MDawg

It's easy to get a check if you win. Who said otherwise?

But you can't walk into a casino with cash, NOT play and ask to convert that unplayed cash to a check. That would be straight money laundering.

I can do it!!!

But I am not interested in how to games.

So here is how and yes it's not available just anywhere, however I don't believe it's money laundering if it's possible to legally do it.

NYS racinos any voucher from a slot (even if cash is inserted and cashed back out) becomes "expired" after 45 days and can only be redeemed at a NYS Lottery office.

They are good for one year but after 45 days you go to the local NYS Lottery office for payment. They usually have one in each Casino and you will get cash but take it to the non Casino location and THEY WILL DEMAND YOU TAKE A CHECK!!!!

I found out the hard way a few years ago when I was in quick need of cash and I was closer to the non-casino office. Ran in, they scanned it, handed me a receipt and said the check would be mailed in a week.

Last thing I wanted was a check lol. Wound up having to dig up the money for my emergency some other way.

Quote: MDawg

Is a casino customer who repeatedly buys in for cash and cashes out for cash, who refuses to identify himself and makes sure that all of his transactions are under the 10K / 24 hour cash reporting requirement guilty of structuring?

Including if he spreads his play out over different tables and casinos to keep it all under 10K / 24 hour at any one casino?

No and no.

If all of his transactions are under 10k/24, then they just are. It’s not like he’s trying to make it look like they are when they are not.

Different casinos are different currency transactions.

You seem to be presuming that each 24 hour buy in was under 10K total, and each 24 hour win total was under 10K.

Also, Running around to different banks to make each deposit or withdrawal under 10K, how is that different from doing the same at different casinos?

Quote: MDawg

You seem to be presuming that each 24 hour buy in was under 10K total, and each 24 hour win total was under 10K.

Please be more specific in your scenarios, then.

Different casinos are definitely different transactions, though.

If you went to five different jewelry stores and spent 10k+ total, you spent it at five different stores.

Would you file a CTR on yourself for spending more than 10k in one day? I don’t believe there’s a requirement that you do that.

Turning cash into a check is not money laundering. People do it everyday without it being money laundering. It is possible that turning cash into a check could be used to launder money, but in the vast majority of cases it is not. That is true if the check comes from a casino or anywhere else.

It would be extremely easy to get a casino check for money that wasn't won. Anyone who thinks it would not be possible has an extremely limited view of how NV casinos operate. From a different state, but an example of how easy it would be to get a check for almost $30,000, yet only 99.8% of that money was not won from the casino: https://twitter.com/FDSportsbook/status/1387837674543779844. But even if it was paid out in a check (which could easily be done), the original $29,900 would not magically be laundered. If it was dirty before the bet, it would still be dirty. The only way the money would be clean, is if it was clean before the bet was made.

Quote: TomG

Turning cash into a check is not money laundering. People do it everyday without it being money laundering. It is possible that turning cash into a check could be used to launder money, but in the vast majority of cases it is not. That is true if the check comes from a casino or anywhere else.

It would be extremely easy to get a casino check for money that wasn't won. Anyone who thinks it would not be possible has an extremely limited view of how NV casinos operate. From a different state, but an example of how easy it would be to get a check for almost $30,000, yet only 99.8% of that money was not won from the casino: https://twitter.com/FDSportsbook/status/1387837674543779844. But even if it was paid out in a check (which could easily be done), the original $29,900 would not magically be laundered. If it was dirty before the bet, it would still be dirty. The only way the money would be clean, is if it was clean before the bet was made.

Why are you bringing facts into a perfectly good rant?

TomG doesn’t appear to have tried any of this himself, and certainly not today. Which is my issue with much of the WOV membership – saying things without going in trying it for themselves, today.

Go into a Vegas casino TODAY, buy in for cash, do not play or do not win – see if they will give you a check for even a penny of your cash.

Why argue with someone who is unwilling or unable to check things out for himself, and simply goes on and on based on what he “thinks” should be.

The example he gave
https://twitter.com/FDSportsbook/status/1387837674543779844
(remove the period)
was an example of what? We don't know if he made the bet with cash. We don't know if he's paid out with cash. Etc.

Quote: billryan

Why are you bringing facts into a perfectly good rant?

Because I have nothing else to do right now other than balance out the people who are so completely clueless and / or dishonest.

Quote: TomG

Because I have nothing else to do right now other than balance out the people who are so completely clueless and / or dishonest.

The difference between you and me is that I’m sitting in a beautiful hotel suite, about to take home six figures winnings, and apparently not agitated or upset enough to revert to having to insult MDawg to try to get a point across.

What’s your excuse for losing control? and calling me clueless or dishonest. Which by the way, it is generally considered poor grammar to use the term “and / or” – a simple or suffices and means the same thing.

It really does come down to some people apparently having no frame of reference with any of this. And going on and on in theory apparently without any real experience. Over the past few years I have received close to a million in winning checks from casinos for table game wins. If those checks somehow represented unplayed cash that I had taken to the casinos that would be money laundering.

These checks – they are not reported as winnings. They are not reported in any way by the casinos. Banks make no reports when I deposit them. It is my obligation, sure, to report the income, but there is no slip going to the federal government notifying them of my receipt of these checks.

Converting cash into (non-reportable) non-currency is what money launderers dream about.