Part III: Business & Regulation · Gaming Regulation & Compliance

Wire Transfer

AML/CFT

An electronic transfer of funds between financial institutions, commonly used by casino patrons to move large sums of money to and from casino accounts. Wire transfers are a critical focus of AML compliance because they can facilitate cross-border movement of funds and are frequently used in layering schemes. Casinos must monitor incoming and outgoing wire transfers for unusual patterns, verify the source and beneficiary of all transfers, and report suspicious wire activity. Incoming wire transfers used to fund gambling activity must be subject to SOF verification.

One entry from the Casino Industry Glossary — 1,157 terms written for surveillance, compliance and operations professionals rather than for players. Definitions describe industry usage; where a term carries a regulatory meaning, verify against the instrument that governs your jurisdiction.