The Greater Phoenix ACAMS Chapter held a learning event on September 5, 2013. Nearly 40 attendees trekked to the Talking Stick Resort and Casino in Scottsdale Arizona to enjoy hors d’oeuvres and the opportunity to network with others from financial institutions, financial product service entities, regulatory agencies, casinos, the Phoenix Police Department, the IRS, Homeland Security, and other businesses. An overview of Chapter membership benefits was presented by Chapter Co-Chair Hemant Mirchandani.
A presentation was made by Michael Webb, CAMS/CPA, BSA/Tax Controller for Casino Arizona and Talking Stick Resort and Casino on Financial Behaviors of Active Gamblers. The presentation included a description of BSA/AML investigations as they pertain to casinos. Investigative processes are different than those used by financial institutions due to frequent lack of specific information on transactors. The presentation covered ways of identifying cash depositors transacting substantial cash while making claims of gambling winnings and types of activity tracked by casinos. Mike also included a case study of an investigation that lasted approximately 12 months.
Thank you to Talking Stick Resort and Casino for hosting this event and to all those who attended!