Attorney General David Eby has released ‘Dirty Money’, an independent report on money laundering in B.C. casinos.
The report prepared by former RCMP deputy commissioner Peter German stated that the washing of proceeds of crime through casinos peaked in 2015, and has since decreased.
“For many years, certain Lower Mainland casinos unwittingly served as laundromats for the proceeds of organized crime,” German wrote.
German noted that the situation got worse “until it outdistanced the ability of existing legislation, process and structure to effectively manage the problem”.
According to German, it became a “collective system failure”.
“Large-scale, transnational money laundering has been occurring in our casinos,” German wrote in his report.
Eby released the report Wednesday (June 27), announcing that the province has begun implementing the 48 recommendations made by German.
“We are moving immediately to get dirty money out of B.C. casinos,” Eby said in an official statement.
The statement noted that a number of recommendations made by German have been implemented or underway.
These include an annual review at least by the British Columbia Lottery Corporation, Gaming Policy and Enforcement Brach, and casino operators if refinements are needed to the current declaration by gamblers of their source of funds.
Eby appointed German in September last year to review the province’s anti-money laundering policies and procedures in the gaming industry.
The German report can be read here.More