AUTOMATED COMPLIANCE AND ACCURATE REPORTING
Title 31 compliance is centered on the Casino verifying authenticity of the identity of the people gambling in their facility. By federal law, Casinos must report both large currency transactions and suspicious monetary transactions. These regulations are described in the Title 31 of the Bank Secrecy Act, requiring Casinos and Card Clubs to report both large currency transactions (CTRs) exceeding $10,000 and suspicious monetary transactions (SARs) of $5,000 or more.
AUTOMONEY ADVANCE simplifies Title 31 compliance on the gaming floor as well as adminstrative process of filing of required IRS and FINCEN reports. To ensure accurate reporting and full compliance, AUTOMONEY ADVANCE will prompt every cashier to complete the required documents when Title 31 threshold limits are met.
AUTOMONEY ADVANCE dictates accurate reporting for gaming patrons, eliminates human recording errors and removes the possibility of costly mistakes that can cause non-compliance with the IRS.