B.C. casinos must declare cash deposits in new rules over money laundering
More inspectors will be placed in some B.C. casinos under changes announced by the provincial government today aimed at preventing money laundering.
Attorney General David Eby has also directed the B.C. Lottery Corp. and the government's gaming policy branch to set up rules on cash deposits of $10,000 or more in addition to the appointment of round-the-clock regulators at large facilities.
Peter German was appointed in September to deliver a report to the government by March 31, but the former RCMP deputy commissioner was given the authority to provide interim recommendations to tackle any suspicious activities.
Eby launched the review after reading a report commissioned by the province's previous Liberal government that said the River Rock Casino in Richmond had accepted $13.5 million in $20 bills in one month, which police said could be proceeds of crime.
The Great Canadian Gaming Corp., which runs River Rock, has said compliance procedures are strictly followed and the company is committed to preventing illegal activities at all its locations.
Eby says gaming facilities must now be able to identify customers playing with cash or bonds of $10,000 or more and have the customer provide the source of the money.
Last month Eby gave the lottery corporation more authority to monitor the gaming industry with new service agreements aimed at strengthening security and compliance.