1. Welcome to VegasMessageBoard
    It appears you are visiting our community as a guest.
    In order to view full-size images, participate in discussions, vote in polls, etc, you will need to Log in or Register.

Front money and providing business info?!

Discussion in 'Casino Gaming' started by MsBlackjax, Jan 13, 2016.

Thread Status:
Not open for further replies.
  1. MsBlackjax

    MsBlackjax Low-Roller

    Joined:
    Sep 3, 2015
    Messages:
    207
    Location:
    Nh
    Trips to Las Vegas:
    6
    I've wired large amounts of money before to Vegas at ceasers and Aria and never had to provide full business info. For an upcoming stay Wynn is asking for a lot of business info and my business tax ID. I think it's strange and makes me feel uncomfortable providing this info, not to mention a pain in the ass since I have several businesses. Not sure what my business info has anything to do with my personal accounts.
    Has anyone else encountered this?
     
  2. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

    Joined:
    Jul 11, 2010
    Messages:
    6,840
    Location:
    Tennessee
    Trips to Las Vegas:
    50
    For LOC, yes. But I have never sent FM. Even when Wynn asked me for my business info, they did not request the tax ID number and I would not have provided it. Not sure if their requirements for FM are different than LOC, though
     
  3. Callahan

    Callahan Tourist

    Joined:
    Oct 26, 2010
    Messages:
    38
    Trips to Las Vegas:
    1
    They are probably asking for this info to help keep Fincen off their backs.

    Also, I suspect the casinos treat "new" players to greater scrutiny than they used to.
     
  4. nostresshere

    nostresshere Mr. Anti Debit Card

    Joined:
    May 4, 2009
    Messages:
    11,132
    Location:
    TN
    Trips to Las Vegas:
    19
    Maybe the amounts? How much are we talking about?
     
  5. MsBlackjax

    MsBlackjax Low-Roller

    Joined:
    Sep 3, 2015
    Messages:
    207
    Location:
    Nh
    Trips to Las Vegas:
    6
    $100,000 but I'm not borrowing it or asking for a LOC and is from one of my personal accounts
     
  6. Scottndindy

    Scottndindy Low-Roller

    Joined:
    Oct 1, 2011
    Messages:
    414
    Location:
    Indianapolis, IN
    Tell them you are retired. If you tell them you are self employed or own a business they will want all the info.
     
  7. Packer

    Packer VIP Whale

    Joined:
    Mar 2, 2014
    Messages:
    4,382
    Trips to Las Vegas:
    149
    Wtf? Call me asap
     
  8. Packer

    Packer VIP Whale

    Joined:
    Mar 2, 2014
    Messages:
    4,382
    Trips to Las Vegas:
    149
    This info is for any new player at Wynn who wants to wire or bring a cashier's check....

    So it's compliance. Apparently the last 3 or so months Wynn employees have been instructed to gather info of your source of income. They want to know where the money is coming from. They are essentially loaning the money as you arent bringing green money. Any transactions like this through the cage they need info on you. This is for new non established players only. (Which you essentially are) They ask all new players who want to deposit a cashier's check or wire money. The only way around it is bringing in cash. (That is another can of worms) All they want is name of co, address, phone number.( I think that's it) If you are self employed or the work address is the same as home just let them (her) know that.
    I did ask if I would need to do all this if I want to bring a cashier's check and they said no as I'm an established player with a CL. They don't like it either but with money laundering happening these days they are crossing there "T"s and dotting their "I" s... Understandable if you ask me.
    Also in your case because our host is on top of it, she knows after you wire the money barbara who is in charge of this credit/wire dept will ask for it so she is nipping it in the bud so you arent hassled.
     
  9. TIMSPEED

    TIMSPEED !địt mẹ!

    Joined:
    Aug 8, 2013
    Messages:
    4,574
    Location:
    Modesto, CA
    Trips to Las Vegas:
    001
    Yep, either of those two things would probably cause them to ask if you're a drug-dealer or doing unsavory business...
     
    Palace Tower Suite!
  10. Packer

    Packer VIP Whale

    Joined:
    Mar 2, 2014
    Messages:
    4,382
    Trips to Las Vegas:
    149
    It's a government compliance I was told. Cash, only name, Dl, address, phone and probably social too. But no work info apparently. But ridiculous if you ask me. Although I do understand from their end.
     
    Last edited by a moderator: Jan 13, 2016
  11. JB in MN

    JB in MN Low-Roller

    Joined:
    Dec 27, 2011
    Messages:
    168
    Location:
    minneapolis
    Anyone know if Cosmo might ask similar? I'm planning to bring 5 figures in cash and leave with them as front money vs keeping it at home and shutting it back and forth each trip.
     
  12. pleepleus

    pleepleus 2016 - The monkey is back

    Joined:
    Jul 17, 2014
    Messages:
    2,341
    Location:
    Hanging around
    Trips to Las Vegas:
    100
    I think the only additional information they ask for is your employer information. I'm assuming they already have your SSN, address, and DL.
     
  13. broncofn

    broncofn VIP Whale

    Joined:
    Mar 16, 2013
    Messages:
    3,922
    Trips to Las Vegas:
    60
    You will be fine, they have safe deposit boxes in the talon room next to the cashier where the door is that you can store it in and they give you a key. Only problem is that im not sure how long they will let you keep it.
     
  14. Packer

    Packer VIP Whale

    Joined:
    Mar 2, 2014
    Messages:
    4,382
    Trips to Las Vegas:
    149
    Just like Wynn now. Wynn never asked for that before.
     
  15. broncofn

    broncofn VIP Whale

    Joined:
    Mar 16, 2013
    Messages:
    3,922
    Trips to Las Vegas:
    60
    Just spoke with your husband a bit ago and gave him some insight to tell you besides front money.
     
  16. Franken Dean

    Franken Dean Newbie

    Joined:
    Feb 27, 2014
    Messages:
    323
    Location:
    Omaha, Ne area
    Trips to Las Vegas:
    14
    This is totally a compliance banking thing. Wynn is not a bank, but their bank has regulatory compliance to follow, before this amoun of money can be sent they have to pass KYC {know tour customer). The banks ans Wynn risk big time fines if the have a audit and do not have not done their due diligence to confirm the identify of the customer and source of the funds.

    This is not a tax thing at all, or Wynn being nosey. This is a lot of money, and if any bank funds would come from a illegal source the banks get fined millions for not getting a reasonable amount of information about the customer ans the origin of the funds.


    I would not recommend to say retired. I would give them only your primary business info.The tax I'd will only be used for their business search or in case they get audited.
     
  17. Franken Dean

    Franken Dean Newbie

    Joined:
    Feb 27, 2014
    Messages:
    323
    Location:
    Omaha, Ne area
    Trips to Las Vegas:
    14
    Our governemtn has really levied out some big fines in the last 2 years. Paypal got fined like 75 million and now anybody doing a personal bank transfer to themselves, collects personal info before allowing even a $10 payment. Most people are unaware of this going as their bank have info on their acccount holders. The Wynn or any other financial org. Recieving the funds has to get this info from the customer, as the the persons banks cannot share your info.
     
  18. thefish2010

    thefish2010 Low-Roller

    Joined:
    Jan 11, 2011
    Messages:
    300
    Trips to Las Vegas:
    50
    They have a large amount of discretion over how they enforce the KYC requirements. This actually is Wynn being nosey, or a more charitable description might be "conservative". Even banks don't ask you for the EIN of your business when opening or receiving large transfers to a personal account, and they have drastically higher KYC requirements than casinos.
     
  19. natedog666

    natedog666 17 and 20 Expert

    Joined:
    Mar 3, 2012
    Messages:
    2,221
    Location:
    Taipei, Taiwan
    Trips to Las Vegas:
    100
    Are you doing it from a business account? Wiring from personal account should not require this. Wynn is getting weird with all sorts of new rules so it might be just another new hurdle...
     
  20. Franken Dean

    Franken Dean Newbie

    Joined:
    Feb 27, 2014
    Messages:
    323
    Location:
    Omaha, Ne area
    Trips to Las Vegas:
    14
    You are wrong.


    https://en.wikipedia.org/wiki/Casino_regulations_under_the_Bank_Secrecy_Act
     
Tags:
Thread Status:
Not open for further replies.