B.C. is investigating possible money laundering in Lower Mainland casinos. (Black Press files)

B.C. criminal casino cash-outs fail to turn up in independent audit

Cheques show ‘no systemic pattern’ of money laundering at River Rock Casino

An audit of high-rolling gambler payouts at B.C.’s largest casino has found errors in payouts, but not the “wild west” of money laundering that has been a popular narrative with B.C. Attorney General David Eby and some Vancouver media.

The B.C. Lottery Corp. hired Ernst & Young Canada to audit three years of transactions at the River Rock Casino, for 2014, 2015 and 2016.

“BCLC commissioned the independent analysis following allegations in the media that patrons were coming into the River Rock Casino with ‘dirty money,’ buying casino chips, playing notionally, then cashing the chips in and receiving a cheque in return,” the provincially owned corporation said in a statement with the audit release.

“Based on EY’s analysis, BCLC is satisfied that there was no systemic pattern of money laundering activity related to cheques being issued by River Rock Casino during the three-year period of 2014 to 2016.”

READ MORE: RCMP says it is stretched thin on B.C. money laundering

READ MORE: BCGEU joins call for inquiry into B.C. money laundering

The audit reviewed more than 2,000 cheques issued for amounts of $10,000 or more. They found one where a River Rock employee issued a cheque marked “return of gaming funds” where no game play had been recorded.

A total of 49 were found not to follow BCLC’s anti-money laundering rules, mostly errors where cheques were marked “verified win” when the amount included part of the player’s original buy-in. The rules are tied in with strict reporting laws with the federal Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Frequently citing media reports, Eby has suggested FINTRAC is collecting reports of suspicious transactions but not acting on them. He hired former RCMP investigator Peter German to investigate, and has begun doling out his findings in stages, accusing the B.C. Liberals of allowing money laundering to proliferate and even assisting it by increasing betting limits.

This week’s highlight was a report that most of RCMP’s dedicated money laundering investigation positions are vacant. The RCMP responded that it has many competing priorities, including terrorism, missing and murdered women and an epidemic of overdose deaths from smuggled opioids, with forensic accountants and other financial specialists in great demand around the world.


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Precipitation levels low for the month of June

Both June and July have seen low to average precipitation levels in comparison to last year, says meteorologist

CN train derailment cleared between Terrace and Prince Rupert

The CN mainline is now open, following a train derailment mid-way between… Continue reading

Nechako Valley Otters bringing home multiple medals from swim meets

The next meet for the Nechako Otters is on July 21 and 22

State of local financial crisis declared in Fort St. James

The District will have a job fair on July 31 to help workers find transitioning jobs

Regional real estate sales down so far in 2019

Real estate sales in the northwest and Bulkley-Nechako regions of British Columbia… Continue reading

Rich the Vegan scoots across Canada for the animals

Rich Adams is riding his push scooter across Canada to bring awareness to the dog meat trade in Asia

Six inducted into BC Hockey Hall of Fame

The 26th ceremony in Penticton welcomed powerful figures both from on and off the ice

RCMP investigate two shootings in the Lower Mainland

Incidents happened in Surrey, with a victim being treated at Langley Memorial Hospital

CRA program to help poor file taxes yields noticeable bump in people helped

Extra money allows volunteer-driven clinics to operate year-round

Recall: Certain Pacific oysters may pose threat of paralytic shellfish poisoning

Consumers urged to either return affected packages or throw them out

How a Kamloops-born man helped put us on the moon

Jim Chamberlin did troubleshooting for the Apollo program, which led to its success

Sexual harassment complaints soaring amid ‘frat boy culture’ in Canada’s airline industry

‘It’s a #MeToo dumpster fire…and it’s exhausting for survivors’

How much do you know about the moon?

To mark the 50th anniversary of the first lunar landing, see how well you know space

Body, burning truck found near northern B.C. town

RCMP unsure if the two separate discoveries are related

Most Read