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Thread: Rincon wanting private info

  1. #1
    Wasn't sure where to post this, but....

    I received a text from my Rincon host saying she needed to update my profile and asked where I am employed. When I responded that I am retired, she said that they need information on where my funds come from because they need to prove that "all funds come from legal sources".

    I asked if this was directed at me specifically or everyone. She said that it was asked of "high level" players.

    I certainly wasn't going to give any details but I did say it was from "retirement income" and told her my ex's previous profession when she asked.

    Has anyone ever been asked this? Alan? Rob? Aaron?
    Is it just CET covering their butts in case...

  2. #2
    Hi Chimp:

    Did they think your ex husband is Brian Molony?

    https://en.wikipedia.org/wiki/Brian_Molony

    I for one, have never been asked such questions by a casino. I have had to answer such questions by my bank after depositing cash over a couple of days.

    FAB

  3. #3
    Haha FAB. Nope. Not him.

    But since you mention your bank asking questions, we were just kicked out of our bank (my ex and me) after 29 years of being in their "elite" level. We were told that they are closing our accounts and should do business with a different financial institution. So when my host texted me I immediately became concerned. We have also had to answer questions over the last year or so regarding large deposits, withdrawals and transfers. We could answer and explain every item they questioned but apparently they were not comfortable with it. I get it but it still pissed me off. Some of it was probably due to my gambling but also we did have unusual transactions simply because of income and transfers that we needed to do as we still had a joint account together to use for joint payments and items for our daughter and also transferring funds out of there into our own personal accounts.

  4. #4
    Chimp do you have a credit line at Rincon? I have a credit line at Caesars and on the credit application (and the renewal which they give me every year) they ask for my employment or business name.

    Of course it's all part of their due diligence to prevent money laundering.

    I would be surprised if they asked you for that if you don't have a credit line. If you don't have a credit line I think they only need your answer "retirement income" for their own records in case the Feds ever examine them. I don't think they could bar or ban you for not answering. But who knows? Rincon might be under investigation for money laundering and that's why they asked you.

  5. #5
    I do not have a credit line anywhere. Never have.
    I think you are probably right about them making sure their own records are covered. But it gave me a bit of an adrenaline rush after the whole bank thing so I was curious if anyone else has encountered this.

  6. #6
    On my annual Caesars credit renewal I give them one bank account (and 3 months statements), the value of my home, all debts, and refuse to give them anything else. They have shut me down twice but so far have always re-opened my line after I call a supervisor. I do not give them my business income, brokerage information, etc., although I assume they can get it all through ones social security number anyway.

  7. #7
    They can bar or ban you for any reason, aside from federally protected discrimination. For example, they cannot ban you because of your race, gender, age (as long as it's over 21), sexual preference, religion, etc.

    Any other reason is okay.

    I agree they are overextending the prying here. They do have a legal responsibility to prevent money laundering, but that responsibility only extends to unusual activity. I have to guess that Chimp's activity is not unusual.

    I have a feeling that they were contacted by your bank when all of those internal investigations were going on.

    Can you tell us the reason your bank said your account was closed? Usually they only do this when there is moderately strong evidence of illegally obtained funds, or evidence of money obtained via illegal/unregulated online gambling.
    Check out my poker forum, and weekly internet radio show at http://pokerfraudalert.com

  8. #8
    The banks official reason was that John was "no longer associated with a law firm" and the private banking level we were in was for attorneys.
    The real reason, as far as we are concerned, was because of several years of both large deposits, large withdrawals, and many transactions just under 10K. I can understand how it looked like we were avoiding 10K deposits, but we explained to them that we have a rental property and the tenant rarely pays in one full payment for the month. And due to the rental amount, there were lots of 7-8K deposits, then 2-3K deposits a week later. And they were sometimes personal check, sometimes cashiers check, sometimes transfers. And on top of that John and I would transfer just under 10K each to fund our personal accounts. And then there were odd amount deposits of either checks or cash from gambling and cash withdrawals. So it's completely understandable that they were suspicious, but as I said, we could explain every transaction.
    And if anyone is wondering why we put up with a renter like that, it is because he pays far more than anyone else would and, although he is not always consistent with the payments, he always pays.
    Now, I don't want to say too much on this, but the renter is willing to pay us a premium because he cannot find many, if any, other place to rent or buy, due to past history. I know the bank is familiar with his name, unrelated to us. So it is possible for that to be part of the reason they were suspicious of us.
    But I am surprised, Dan, to hear that you think it possible that they contacted the casino. But who knows.

  9. #9
    I doubt the bank contacted the casino.

    I think it was just Rincon doing its due diligence because of money laundering regulations and it was just a coincidence that it happened to Chimp at the same time she had other banking issues.

    If I were Chimp I would forget about the whole thing and continue bankrupting Rincon. And then, buy her own bank.

  10. #10
    IMO, you definitely don't want to be doing several transaction in the 6-9k range, especially if they are never over 10k. Although rare, sometimes I prefer to trigger a CTR by making a transaction of 11-12k instead of the 8-9k that I actually want to do, so as to show I'm not doing anything like structuring. ie: Depositing or withdrawing money at a bank, opening up or closing a front money account at a casino.

    I've gotten denied several times at a casino trying to set up a front money account because they don't like "self employed" (or something similar) as job occupation....especially without a business name attached. Although, some places have been easy and they don't really care at aLL.

  11. #11
    Yea, I'm going to avoid those types of transactions to the extent I can from now on. Hard lesson learned.
    Thanks for the comments.

  12. #12
    Originally Posted by Chimp View Post
    The banks official reason was that John was "no longer associated with a law firm" and the private banking level we were in was for attorneys.
    The real reason, as far as we are concerned, was because of several years of both large deposits, large withdrawals, and many transactions just under 10K. I can understand how it looked like we were avoiding 10K deposits, but we explained to them that we have a rental property and the tenant rarely pays in one full payment for the month. And due to the rental amount, there were lots of 7-8K deposits, then 2-3K deposits a week later. And they were sometimes personal check, sometimes cashiers check, sometimes transfers. And on top of that John and I would transfer just under 10K each to fund our personal accounts. And then there were odd amount deposits of either checks or cash from gambling and cash withdrawals. So it's completely understandable that they were suspicious, but as I said, we could explain every transaction.
    And if anyone is wondering why we put up with a renter like that, it is because he pays far more than anyone else would and, although he is not always consistent with the payments, he always pays.
    Now, I don't want to say too much on this, but the renter is willing to pay us a premium because he cannot find many, if any, other place to rent or buy, due to past history. I know the bank is familiar with his name, unrelated to us. So it is possible for that to be part of the reason they were suspicious of us.
    But I am surprised, Dan, to hear that you think it possible that they contacted the casino. But who knows.
    I hate to tell you, but the above really does sound exactly like structuring.

    I don't care if you did or not. I doubt you were hiding anything or doing anything illegal. But if all of your transactions keep landing "just under 10k", the benefit of the doubt basically goes away.

    The only exception is if you had a reason for it. For example, if I had a specialty business which sold cars and all were under $10k, it would make sense for me to be making $9900 deposits at the end of the day, provided that those deposits matched up with the day's sales.

    But short of that, if you have repeated deposits/withdrawals which fall just under $10k, it usually IS structuring.

    Sometimes structuring is done with benign intentions, such as avoiding filling out cumbersome forms. However, it's still structuring.

    Regarding the bank calling the casino, it's possible this happened if they were one of the transactions that the bank found suspicious. Otherwise they wouldn't have contacted them.

    I do find it odd that you were singled out for this, as you were not requesting a front money account or credit.

    It is also possible that this was just a backdoor way of collecting marketing information on you, and they laid out the "comply with the law" crap just to make you cooperate.
    Check out my poker forum, and weekly internet radio show at http://pokerfraudalert.com

  13. #13
    I think the US government has been cracking down on money laundering too, so your casino is probably just being overly cautious.

  14. #14
    Told to me by insiders at Rincon: Rincon has been identified as a problem casino for money laundering and bank fraud. I didn't want to mention before. Rincon did nothing illegal but unfortunately they got caught up in what some bad people were doing. Several banks have also identified Rincon as a source for fraudulent transactions involving stolen debit cards. Again nothing that Rincon did.

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