Currency transaction report casino11/21/2023 ![]() One key is used to release a drop box from it designated location, such as inside a slot machine, while a second key is needed to open the drop box. Currency and chips are stored in drop boxes. ![]() ![]() It’s used to lock someone in place as they try to pass into or out of the count room.Īnd then we have key controls. There’s also a man trap leading into the count room, which is a segregated room that requires key access to enter and exit. The team divides up tasks, so that one person empties the incoming boxes of currency, while a second person sorts and counts the contents, and a third person recounts the currency and fills out a summary form. Everyone on the count team has to wear a jumpsuit without pockets, so they can’t slip any money into their pockets. Anyone on a count team has his identification examined before he can enter the room. The count table is made of clear Plexiglas, so that any currency falling under the table can still be seen. What about the controls over the counting of cash and chips? This takes place in a count room, which is monitored by security guards and video cameras. This might all seem like overkill, but keep in mind that chips are directly convertible into cash, so the controls over the chips need to be as comprehensive as the controls over cash. And finally, when chips are worn out, a specialist chip destruction firm is called in, which grinds up the chips while being watched by security. Once chips arrive at the receiving dock, the security team takes over and matches them against the shipping documents to make sure than none have been stolen in transit. Otherwise, chips could be stolen at the supplier and presented at the casino for payment. How about controls over chips? First of all, casinos only buy chips from reputable suppliers that maintain tight control over their inventories. The intent is to keep a dealer from palming any chips and walking away with them. Whenever this happens, the dealer has to turn his hands upward with his fingers fully extended, which is called clearing hands. Another control applies to when a dealer leaves a gaming table or moves chips to and from the storage area, which is called the chip rack. ![]() A lot of casinos don’t allow dealers to wear watches, especially large watches, because you can slide a chip behind the watch. We’ll start with controls for dealers.ĭealers have to wear aprons, or pants without pockets, so that they can’t put chips into their pockets. Let’s go through some of the better ones. Casino ControlsĬasino and gaming operations have an incredible number of controls, and that’s because each one was put in place because someone figured out a new way to steal from them. He then plays very little, in order to avoid any gaming losses, and then cashes in the chips in exchange for different bills. For example, someone brings in stolen cash and swaps the cash for chips. Suspicious Activity ReportsĪnd on top of that, a casino has to file a Suspicious Activity Report whenever a customer seems to be avoiding the requirements of the Bank Secrecy Act, which usually means money laundering. Another possibility is to hand out cash to your associates, so that the casino’s tracking system doesn’t figure out that a lot of money really came from a single source. Or, he could use gaming day overlap, where he splits his cash transactions over a couple of days, so that a total transaction of $10,000 is split up over different reporting periods, which doesn’t trigger a report. Structuring occurs when a customer breaks up a large monetary transaction into a bunch of small ones, such as making 20 small deposits with a casino in one day, rather than one large deposit that could trigger a currency transaction report. Customers with a lot of illicit cash don’t want to be reported, so they do things like structuring.
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