Code of Massachusetts Regulations › 205 CMR - MASSACHUSETTS GAMING COMMISSION › Title 205 CMR 138.00 - Uniform Standards of Accounting Procedures and Internal Controls for Gaming › Section 138.40 - Procedure for Acceptance of Checks, Cash Equivalents, Wire Transfers, and Credit/Debit Cards; Issuance of Counter Checks

Current through Register 1525, July 5, 2024
A system of internal controls submitted by a gaming licensee,
				in accordance with
				205
				CMR 138.02, shall include policies and
				procedures relative to the acceptance of checks and cash equivalents presented
				by patrons, and the issuance of counter checks to patrons for gaming purposes.
				These policies and procedures shall include, but not be limited to:
(1) The specific locations in the gaming
			 establishment where patron deposits may be received;
(2) The specific form of deposits that will
			 be accepted including cash, chips, plaques, slot tokens, jackpots, tournament
			 winnings, casino checks, personal checks, certified checks, traveler's checks,
			 wire transfers, electronic fund transfers, money orders, and other cash
			 equivalents. Provided, procedures shall be included to ensure that the gaming
			 licensee does not accept or cash government-issued checks, or third party
			 checks, other than bank issued cashier's checks or travelers checks;
(3) Identification requirements at such time
			 that a patron deposits funds, including controls in place to assure that any
			 cash received on deposit is done so in accordance with required currency
			 transaction reporting and anti-money laundering criteria;
(4) Specific policies and procedures for
			 patron deposit accounts if they will be utilized by the gaming licensee
			 including the permitted uses of funds placed on deposit to include, but not be
			 limited to, in exchange for chips, tokens or other forms of gaming value, to
			 establish a deposit account against which future draws may be made, and as
			 payment towards outstanding counter checks;
(5) Procedures to refund any balance in a
			 patron's deposit account at such time that it is requested;
(6) Specific procedures for the issuance of
			 counter checks, to include patron identification requirements, and
			 documentation and accountability requirements to request a counter check, issue
			 the counter check (whether at the main cage, gaming table or such other
			 approved location), including disclosures, consistent with disclosures provided
			 at the time the extension of credit was approved, which include the date or
			 time period within which the counter check will be deposited with the patron's
			 bank, and post the counter check transaction to the patron's account and the
			 gaming licensee's books of account;
(7) Specific procedures for the transfer and
			 storage of documentation involved in all facets of the counter check
			 process;
(8) Procedures to ensure
			 that any credit card or automated teller machine operating in the gaming
			 establishment does not allow a patron to obtain cash from a government-issued
			 electronic benefits transfer card and that it is otherwise in conformance with
			 205
			 CMR 138.47;
(9) Procedures to ensure that debit card cash
			 transactions are not permitted to be initiated within 15 feet of the gaming
			 area or simulcasting or Sports Wagering Area or Sports Wagering
			 Facility;
(10) Procedures to ensure
			 that no Sports Wagers, gaming chips, plaques, tokens, and other forms of gaming
			 value may be purchased with a credit card. Provided, patrons may be permitted
			 to pay gaming tournament entry fees with a credit card with the exception of
			 Sports Wagering tournaments;
(11)
			 Procedures, including the maintenance of a log, for accepting, verifying and
			 accounting for wire transfers and electronic fund transfers, including wire
			 transfer and electronic fund transfer fees, and procedures for sending funds by
			 wire transfer or electric fund transfer; and
(12) Procedures to ensure compliance with all
			 applicable provisions of the Currency and Foreign Transactions Reporting Act of
			 1970 (commonly referred to as the Bank Secrecy Act) and corresponding FinCEN
			 regulations including 31 CFR
			 1010:
General Provisions,
as
			 applicable, and 31 CFR
			 1021:
Rules for Casinos and Card
			 Clubs.