New reporting rules to prevent money laundering in B.C. In many cases, the dirty money is simply gambled away. “The particular model here wasn’t the model that was used on the Lower Mainland, for which we’ve become internationally famous.”Įby asserts that organized criminals are instead providing cash to gamblers directly through loan sharking or cash delivery services and getting clean money back upon repayment by the gambler. “At the exact same time as this survey was done, we know that people were bringing bulk cash that was the proceeds of crime into casinos with impunity for an extended period,” he said. Transactions below $10,000 are not subject to federal or provincial reporting rules.īCLC says it has controls in place for amounts under $10,000 but declined to say what they are “to not adversely affect their effectiveness.”Īttorney General David Eby conceded that the audit disproves a popular theory that organized criminals were bringing dirty money into casinos to obtain clean cheques upon cashing out.
Vaughn Palmer: Eby calls on Ottawa, politely, to beef up RCMP money-laundering teamĪnother 19 were red-flagged for suspicious activity and by the end of 2016 two were banned and 10 placed on cash-source conditions, the BCLC said.Ĭasinos are required to obtain a declaration of the source of funds from players for all buy-ins of $10,000 or more.
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