Also know as Title 31, the Bank Secrecy Act (BSA) was passed in October 1970. The Act requires banks and other financial institutions to keep records and file certain reports which have a high degree of usefulness in criminal, tax, and regulatory investigations or proceedings.
Casinos and card clubs are designated as financial institutions and subject to the requirements of the BSA if:
- They are licensed to do business as a casino by state, tribal, or local governments, and
- They have gross annual gaming revenues in excess of one million dollars. Casinos operating in the state of Nevada are exempt from the BSA regulations, and are instead subject to Nevada Regulation 6A. This applies only to casinos with gross annual gaming revenue in excess of ten million dollars, and two million in "table games statistical win".