Enhanced Geolocation for Title 31 Compliance

This technical report discusses the role of enhanced geolocation technology in ensuring compliance with Title 31 of the Bank Secrecy Act for cashless and digital wallets in the gaming industry. It outlines how Gaming Enterprises can utilize advanced geolocation methods to accurately determine a user's location, thereby mitigating risks associated with fraud and financial crime. The report emphasizes the increasing penalties imposed by the Office of Foreign Assets Control (OFAC) for non-compliance, highlighting that in 2023, penalties exceeded $1.5 billion. It details five key ways that enhanced geolocation can help Gaming Enterprises meet regulatory requirements, including blocking users in high-risk jurisdictions, detecting fraudulent IP addresses, and preventing unauthorized access. The document also notes the inadequacy of traditional IP address-based geolocation methods, which are vulnerable to manipulation. By integrating enhanced geolocation checks into their operations, Gaming Enterprises can strengthen their compliance programs and protect against financial crimes while ensuring lawful operations.