The Financial Crimes Enforcement Network (FinCEN) is seeking public comments on a proposal to renew the requirements for casinos and card clubs to keep records of transactions under the Bank Secrecy Act. The proposal aims to reduce the paperwork burden while ensuring that casinos secure and maintain the necessary information, like names, addresses, and social security numbers, for each deposit, account, or credit transaction. Comments must be submitted by June 23, 2025, and all submissions will become public records. The agency is especially interested in feedback on the costs and practicality of these recordkeeping requirements.
Simple Explanation
The Financial Crimes Enforcement Network (FinCEN) wants to keep the rules that make casinos keep track of who gives them money or borrows money. They are asking people to say if these rules are too hard or expensive, and everyone can tell them what they think by June 23, 2025.