Md. Code Regs. 36.03.10.21

Current through Register Vol. 51, No. 24, December 2, 2024

Section 36.03.10.21 - Wire Transfers

A. A facility operator may accept a negotiable instrument in the form of a wire transfer or ACH transfer from a player to enable the player to take part in gaming or to pay an outstanding debt to a facility operator.

B. A facility operator shall record in its cashiers' cage accountability any funds accepted by wire transfer or ACH transfer with no documented business purpose other than to enable a player to take part in gaming within 24 hours of receipt of the wire transfer.

C. A facility operator shall develop and include in the internal controls submitted to and approved by the Commission under Regulation .05 of this chapter procedures addressing the acceptance, verification, and sending of wire transfers or ACH transfers meeting the requirements of this regulation.

D. A facility operator's internal controls shall:

(1) Require preparation of a cashiers' cage wire transfer or ACH transfer log to record the following information pertaining to a wire transfer or ACH transfer accepted by a facility operator on behalf of a player:

(a) A sequential number assigned by the facility operator to the wire transfer or ACH transfer accepted;

(b) Date and time notice of the wire transfer or ACH transfer was received;

(c) Name of the financial institution to which the funds were sent;

(d) Amount transferred;

(e) Name of the player for whose benefit the funds were accepted;

(f) The name of the financial institution from which the funds were transferred;

(g) The method by which the facility operator was notified of the receipt of the wire transfer or ACH transfer;

(h) If noticed by telephone, the name and title of the individual providing notice;

(i) The signature of the cashiers' cage employee receiving and recording the information required by this section; and

(j) If applicable, a notation that the wire transfer or ACH transfer has been returned under §E of this regulation;

(2) Require that a cashiers' cage supervisor other than the cashiers' cage employee who initially documented acceptance of the wire transfer or ACH transfer:

(a) Independently confirm:

(i) Date, time, and method by which the facility operator was notified of the wire transfer or ACH transfer; and

(ii) If noticed by telephone, the name and title of the individual providing notice;

(b) Record the date and time of confirmation in the wire transfer or ACH transfer log; and

(c) Sign the wire transfer or ACH transfer log as completing the confirmation process;

(3) Document the procedures used to:

(a) Establish, verify, and document the identity of a player sending a wire transfer or ACH transfer;

(b) Make the wire transfer or ACH transfer proceeds available to a player at the cashiers' cage; and

(c) Adjust the cashiers' cage accountability;

(4) Require preparation of a cashiers' cage wire transfer or ACH transfer log to record the following information pertaining to a wire transfer or ACH transfer sent by a facility operator on behalf of a player:

(a) A sequential number assigned by the facility operator to the wire transfer or ACH transfer sent;

(b) Name of the player;

(c) Date of the transaction;

(d) Amount wired;

(e) Source of funds;

(f) The name and address of the financial institution to which the funds were wired;

(g) Account number to which the funds are credited;

(h) If the request to send a wire transfer or ACH transfer is made in person at the cashiers' cage, the signature of the player;

(i) If the request to send a wire transfer or ACH transfer is not made in person at the cashiers' cage, documentation supporting the receipt of a request by the facility operator to send a wire transfer or ACH transfer on behalf of a player;

(j) The signature of the cashiers' cage employee receiving and recording the information required by this regulation; and

(k) The signature of the cashiers' cage supervisor or accounting department supervisor authorizing the wire transfer or ACH transfer; and

(5) Document the procedures used to:

(a) Establish, verify, and document the identity of a player requesting that a wire transfer or ACH transfer be sent;

(b) Send the wire transfer or ACH transfer; and

(c) Adjust the cashiers' cage accountability.

E. A facility operator shall take immediate action to return to a player by wire transfer or ACH transfer funds initially accepted by wire transfer or ACH transfer under the following circumstances:

(1) The wired funds received by the facility operator have no documented business purpose other than to enable a player to take part in gaming;

(2) All or a substantial portion of the wired funds remain in the facility operator's cashiers' cage accountability more than 14 days following transfer to that accountability; and

(3) The player has engaged in minimal or no video lottery or table game play since receipt of the wire transfer or ACH transfer.

F. A wire transfer or ACH transfer returned in accordance with §E of this regulation shall be sent to the same individual, financial institution, and account number from which the funds were debited.

G. Return of a wire transfer or ACH transfer shall be recorded in the wire transfer or ACH transfer log maintained under §D of this regulation.

Md. Code Regs. 36.03.10.21

Regulations .21 adopted as an emergency provision effective 40:6 Md. R. 470, eff.3/1/2013 ; emergency action expired effective July 20, 2013
Regulations .21 adopted effective adopted effective 40:16 Md. R. 1347, eff.8/19/2013 ; amended effective 42:26 Md. R. 1597, eff.1/7/2016; amended effective 50:26 Md. R. 1130, effective 12/12/2023, exp. 6/9/2024 (Emergency); amended effective 51:10 Md. R. 529, eff. 5/27/2024.