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NEWave Continually Monitoring Upcoming and Dramatic FinCEN Changes, Notifies Clients of Deadline Extension(January 18, 2012)
LAS VEGAS, NV -- (Marketwire) -- 01/18/12 -- Leading software supplier to the gaming industry NEWave is continually monitoring the upcoming and dramatic changes in FinCEN regulations recently announced by the U.S. government. Now NEWave is notifying its clients that the deadline to meet the new FinCEN reporting requirements has been extended to March 31, 2013.
"The FinCEN changes are sweeping, and therefore, the deadline extension is a welcome relief to casino operators everywhere. Because they must either increase staffing levels or install software that will complete and file the forms automatically, casinos should not take the extension as a time to relax -- the prep work is still significant, and now is the time to prepare," said NEWave COO Tom Bechtel.
NEWave is in the process of finalizing software updates to its myCompliance Suite that will ensure casinos are compliant with the new reporting process. That product is expected to be release in Q1 2012, well in advance of the impending FinCEN changes, giving casinos time to get ahead of the new requirements.
Additionally, NEWave recently released an important white paper which outlines the effects on U.S. casino operators from the changes in FinCEN regulations. An updated version of the white paper is available for free, immediate download now at NEWave's website, www.mynewave.com.
NEWave has a long and proven track record of protecting casinos against fines. In fact, not one of NEWave's clients has ever been found to be in non-compliance. Additionally, an independent audit proved that NEWave's software saves casinos anywhere from $100,000 to $150,000 annually.
About NEWave: NEWave and its more than 230 clients are creating award-winning, innovative solutions together. Founded in 1993, NEWave has more than 200 years of combined professional experience in the gaming and hospitality industry; identifying, developing and deploying tools and strategies required to successfully manage information technology projects and organizations. In addition, NEWave leads the industry in the development and implementation of gaming and hospitality software applications and services that provide complete solutions for auditing functions, regulatory compliance and casino cage operations. For more information, please visit www.mynewave.com.
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