Anyone bank a casino and would be willing to share what they have in their program/what they do to monitor their transactions, etc. Thank you.

is the casino considered its own sovereign nation?

I think you are talking about 2 different issues here. Are you talking about a Casino ran by an Indian Tribe on their land or are you talking about a casino such as the Flamingo in Las Vegas?

Not on a reservation/run by an indian tribe.

I'm not a BSA guy, so please feel free to enlighten me, but what difference from a BSA standpoint would it make whether a casino is run by Indians or a privately owned company?

we bank a casino which is Indian owned and located on a reservation. we transact their bulk currency shipments, a BSA area; they frequently issue checks over $3,000.00, a transaction that would appear on our Proof currency reports, a BSA review item; and have exempted them from CTR filing, another BSA area.

I guess my question is.....do Indian run casinos get BSA breaks that a non-Indian casino would not? And if so....why?

I believe the big differences is that because Native American Reservations are considered a sovereign nations you can exempt that as a Phase I customer for CTR reporting purposes.

@JennKK2 - aside from filing CTRs, how do you monitor their activity via your AML software?

Thank you MNCompliance....that's what i was wondering about.

@fudoshin314
the only time we are filing CTRs is when "Joe Blow" brings in a check from the casino to cash with us. the casino is a sovereign nation therefore we don't file CTRs on "them". we document their bulk currency shipments, we annually receive their certification as a sovereign nation, and review daily our currency reports which are triggered at any $3,000.00 cash transaction. they do utilize the RDC service and so I had them on my high risk monitoring list for a few quarters to ensure the deposits were "problem free". We have had this relationship for many years but I would have expected when we did acquire their accounts, they were met with and a review of their BSA policy was conducted. Casinos have their own type of CTR form so ensuring they have a BSA AML program may provide you with additional assurances.

@JennKK2 Thank you!