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SUSPICIOUS TRANSACTIONS
Under 31 CFR § 1021.320, every casino must file a report with FinCEN detailing any suspicious transaction relevant to a possible violation of applicable law or regulation.
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WHEN IS A REPORT REQUIRED? • A report is required when the transaction: • Was conducted or attempted to be conducted by, at, or through a casino • Involves/aggregates at least $5,000 in funds or other assets. • The casino knows, suspects, or has reason to suspect that the transaction: • Involves funds derived from/used to disguise an illegal activity, • Is designed to evade legal requirements, • Has no business or apparent lawful purpose or • Involves the use of the casino to facilitate criminal activity
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