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Online gaming gets customer identification relief from FinCEN

FinCEN Provides Exceptive Relief for Casinos from Certain Customer Identification Requirements

The Financial Crimes Enforcement Network (FinCEN) today issued a ruling granting limited exceptive relief under the authority set forth in 31 U.S.C. § 5318(a)(7) and 31 CFR § 1010.970(a) to casinos and card clubs from certain customer identity verification requirements in the context of online gaming. Specifically, under the terms of this relief, a casino may utilize suitable non-documentary methods to verify the identity of online customers. The suitability or non-suitability of any particular method should be evaluated based on risk. This exceptive relief is effective as of October 19, 2021.

Link:

FinCEN Exceptive Relief Notice

Categories: Anti-Money Laundering Casinos & Gaming FinCEN Updates

eric9to5

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