Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2731 - Currency Transaction Reporting

Current through Register Vol. 50, No. 6, June 20, 2024
A. Each licensee and casino operator shall be
				responsible for proper reporting of certain monetary transactions to the
				federal government as required by the Bank Records and Foreign Transactions
				Act, commonly referred to as the "Bank Secrecy Act" of 1970 as codified in
				31 USC
				5311 -
				5323
				(Sept. 13, 1982) and
				12
				USC 1829 (Sept. 21, 1950) and 1951-1959 (Oct.
				26, 1970). Specific requirements concerning record keeping and reports are
				delineated in 31 CFR Chapter X and shall be followed in their entirety. The
				Bank Secrecy Act of 1970 and the rules and regulations promulgated by the
				federal government pursuant to the Bank Secrecy Act of 1970 are adopted by
				reference and are to be considered incorporated herein.
B. Penalties may be assessed against a
				licensee or casino operator, and any director, partner, official or employee
				who participated in willful violations of the reporting requirements of the
				Bank Secrecy Act.
C. All employees
				of the licensee and casino operator shall be prohibited from providing any
				information or assistance to patrons in an effort to aid the patron in
				circumventing any and all currency transaction reporting
				requirements.
D. A licensee's or
				casino operator's employees shall be responsible for preventing a patron from
				circumventing the currency transaction reporting requirements if the employee
				has knowledge, or through reasonable diligence in performing their duties,
				should have knowledge of the patron's efforts at circumvention.
E. For each required currency transaction
				report for casinos (CTRC) or suspicious activity report for casinos (SARC), a
				clear surveillance photograph of the patron shall be taken and attached to the
				licensee's or casino operator's copy. If a clear photograph cannot be taken at
				the time of the transaction, a file photograph of the patron, if available, may
				be used to supplement the required photograph. The licensee or casino operator
				shall maintain and make available for inspection each CTRC and SARC, with the
				attached photographs, for a period of five years.
F. One legible copy of each CTRC shall be
				forwarded to the division in a manner determined by the division, in accordance
				with federal deadlines.
G. One
				legible copy of each SARC shall be forwarded to the division in a manner
				determined by the division, in accordance with federal deadlines.
H. The licensee and casino operator shall be
				responsible for maintaining a single log which aggregates all transactions in
				excess of $3,000 from the various multiple transaction logs. The licensee and
				casino operator shall include in its internal controls the procedures for
				recording multiple transactions and aggregating the transactions of individuals
				or on behalf of individuals to ensure compliance with CTRC and SARC
				requirements. The internal controls shall include, but are not limited to:
1. all cash transactions in excess of $3,000
				shall be recorded on a multiple transaction log and signed by the employee
				handling the transaction;
2. any
				multiple transaction log which reflects no activity shall be signed by the
				supervisor;
3. the employee
				handling the transaction shall be responsible for accurate and complete log
				entries. No log entry shall be omitted. Each log entry shall include the date
				and time, the amount of the transaction, the location of the transaction, the
				type of transaction, and the name or physical description of the
				patron;
4. once any patron's cash
				activity has exceeded $3,000, any and all additional cash activity shall be
				logged regardless of the amount or location;
5. personnel of the licensee or casino
				operator shall coordinate their efforts to ensure all cash transactions in
				excess of $3,000 are properly logged and aggregated;
6. personnel of the licensee or casino
				operator shall coordinate their efforts to ensure any required currency
				transaction reports are properly completed;
7. as the $10,000 amount is about to be
				exceeded, the employee consummating the transaction shall be responsible for
				obtaining and verifying the patron's identification prior to completing the
				transaction;
8. all multiple
				transaction logs shall be turned in to the cage for submittal to the accounting
				department daily.