Aml And Regulatory Compliance Standards

(1) Each Licensee shall submit to the Council for approval a description of its AML and regulatory compliance programs, policies, and procedures, including a description of the following: (a) Controls for payouts of $10,000 or more; (b) The process for identifying the structure of multiple Wagers within a 24-hour period in order to circumvent reporting and recoding requirements; and (c) The process for creating a log of Wagers of $5,000 or more. (2) Each Licensee shall submit a monthly report to the Council of any violation or non-compliance with the AML compliance program, policies, and procedures; AML laws or regulations; any regulatory compliance program, policies, and procedures; or any law or regulation governing the Licensee in any jurisdiction, including the State of Tennessee. If there is nothing to report, the Licensee does not have to submit such a report.