Title 31 Introduction Overview
Since 1970, Title 31 of the U.S. Code of Regulations has required financial institutions to assist U.S. government agencies to detect and prevent money laundering by keeping records of large cash transactions and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities, such as terrorist financing. Casinos are required to comply with Title 31 regulation by reporting large currency transactions and suspicious activity reports.
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Course Details
Learning Objectives
- Understand the basics of Title 31 terms and concepts.
- The history of Title 31, also known as the Bank Secrecy Act.
- Government’s reason for Title 31 reporting
- Avoid fines and penalties by following the regulation
- Learn what kinds of transactions and activities must be reported.