FinCEN Loosens Regulations Concerning Casino ID Verification

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FinCEN of the US Treasury Department loosens the regulations concerning ID verification. The use of non-documentary means in order to ID their visitors will be permitted.

FinCEN has relaxed regulations regarding casino ID verification. Most casinos will be able to accept more methods to verify patron's identity. This is a reflection of the US gaming reality. Many players are resorting to playing at online casinos.

FinCEN has relaxed regulations regarding casino ID verification. The new system is likely to be challenging at the start. Third-party service providers and new technologies can offer more reliable identity verification methods than the documented methods used up until this point. FinCen is concerned with fighting money laundering and terrorist financing. Since 1985, the Bank Secretary Act has defined casinos as financial institutions. They must file Currency Transaction Reports (CTRs) on all alone and/or aggregated currency transactions over $10,000 per day.