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FinCEN Warns on Gamblers Who Break Up Winnings, Bet Suspiciously
printCasinos should watch for gamblers who attempt to break up winnings in order to evade federal currency transaction requirements, the U.S. Treasury Department said in guidance issued Friday. The guidance, released by the department's Financial Crimes Enforcement Network (FinCEN), highlights suspicious behavior that casino employees should monitor for. Gambling operations are required under the Bank Secrecy Act to report cash-in and cash-out transactions of $10,000 or more. Criminals trying to move dirty money may have over $10,000 in chips but cash in amounts that do not require reporting, or enlist another person to help break up the amount, the bureau...
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