Last week, the World Series of Poker (WSOP) announced major news via a tweet. Non-US players are now required to provide proof of address along with their passports.
If you are planning to travel to the World Series of Poker from outside the United States, it’s advisable to come prepared with utility bills and any other relevant documents you might consider bringing.
Seth Palansky, the WSOP Vice President of Corporate Communications, informed GlobalPokerIndex.com about a new rule. He clarified that this rule applies to all financial institutions, casinos, and any other places that handle money. He advised international players to bring proof of address other than a passport, as it doesn’t provide a home address. Suitable alternatives can be a utility bill, a cell phone bill, a driver’s license (if it has an address), or a credit card statement. He added that with the prevalence of online banking and bill payments, everyone should have some form of documentation that verifies their residence.
Players have been consistently tweeting the WSOP and Seth Palansky. It seems that passports and driver licenses from certain countries that include your address information should suffice. However, I recommend carrying an additional form of identification for added security.
It’s hard for me to picture the terrible situation where you travel halfway across the globe, only to find out your journey was pointless because you forgot your cell phone bill.
Why the change?
The recent crackdown on potential money laundering in casinos by the federal government is likely the reason behind the new rule. This new policy, first mentioned in March, mandates casinos to vet all their high-rollers, particularly the sources of their funds.
Interestingly, it appears that the new policies, which were not expected to be implemented so soon, are already being enforced by the Treasury Department, as indicated by the new WSOP rule.
A Reuters article dated March 26, 2014 stated, “Casinos may be required by law to gather additional information about specific customers to clarify high-risk transactions like international wires and hefty cash deposits,” according to anonymous sources. Both of these transaction types are characteristic of the World Series of Poker (WSOP).
Before the implementation of the new policy, casinos were merely required to report suspicious activities. They had no obligation to ascertain the source of a player’s funds. Contrary to Sheldon Adelson’s assertions, traditional brick-and-mortar casinos are attractive targets for money launderers. This is because players can enter with a substantial amount of cash and play without any inquiries.
It is also intriguing to note that the new policy might possibly originate from the money laundering case filed against Sheldon Adelson’s Las Vegas Sands Corp. This case arose after a drug lord laundered more than a hundred million dollars at the Sands properties.
The Las Vegas Sands Corp. agreed to a $47 million settlement to resolve a case involving Zhenli Ye Gon, a Chinese businessman. Ye Gon, who allegedly has connections to a Mexican drug cartel, is accused of laundering approximately $125 million at the Sands-owned Venetian and Palazzo casinos, among other places, between 2004 and 2007.
The U.S. Attorney’s Office in Los Angeles reported that Ye Gon and his associates transferred money from various banks and currency exchange houses in Mexico to Sands accounts in the U.S, as stated by a report on money.CNN.com.
When Gon was caught, he had bundles of cash secured with Venetian money bands in his possession.
