For many years, gaming jurisdictions have expended countless number of hours in establishing regulations to prohibit money laundering, and, more importantly, attempting to single out violators and impose severe punishments.
In the more mature gaming markets, such as Nevada, and in the more recent industry participants, such as Macau, regulators have made every effort to identify illegal financial transactions and to punish the violators.
In an exclusive story published last week by Reuters, it was noted that the U.S. Treasury Department is working on more detailed regulations that would have casinos do a more in-depth determination of a high-rollers’ source of funds.
The new rules, which Reuters said could take as much as a year to promulgate, would require the casinos to generate more knowledge of individuals involved in high-risk transactions.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at [email protected].