British Columbia is looking into what caused the money laundering crisis in the aftermath of which the province lives at the moment. But while revelations continue emerging day by day and threaten to reach shocking heights, Delta officials proposed the idea of a cashless casino venue that would potentially eliminate the issue and ensure that the new Cascades Casino would not attract dirty cash own the road.
The scandal that alleges casino venues in British Columbia were laundromats for years on end is raging and appears to increase in scale. Reports emerge with detailed information that the amount of dirty cash washed by the gambling and real estate sectors could reach billions. A draft report of the Financial Transactions and Reports Analysis Center of Canada failed to estimate the exact amount, but according to the estimations listed in it, the overall sum could reach CA$40 billion.
Is Cashless Cascades Casino Delta Possible?
Casino Venues such as River Rock in Richmond were among the preferred locations for loan sharks that even continued their work despite existing bans for operation. Last summer, around the time former Mountie Peter German issued his scandalous report Dirty Money and stirred the pot the point of no return, George Harvie stated that if he becomes Delta’s new Mayor, he would work for a cashless casino venue.
He also pointed out that the gaming revenue of the new venue operated by Gateway Casinos & Entertainment is going to be used for battling problem gambling and providing individuals with adequate prevention measure that could establish healthy gambling habits. The candidate who promised dirty cash would not have a place in casino venues took the recommendations published in the report seriously.
The town borders Richmond, considered being the money laundering hub of British Columbia. This is a reason enough for local officials to work towards a gambling facility that does not accept cash payments whatsoever. He pointed out that the system that would be implemented in the casino venue would require transparent verified transactions. The account would be funded with money that would then be used for gaming across the floor.
Neighboring Richmond Concerns Delta
Around the globe, jurisdictions are working towards this goal, as officials have recognized the threat of money laundering. New Zealand is one of the countries that regulated gambling in a way that facilitates cashless casino operation. Despite these projections and the picture painted by the Mayor, people still have concerns that money laundering is a deeply rooted practice that would be hard to eliminate.
The criminal activity was powered by underground banks up until now and the introduction of a cashless operation is not projected to have a substantial effect. Money laundering would still be a possibility and in this case, it would be a more discrete operation, since no heavy duffel bags would be involved in the process. Mayor Harvie made his way to Ottawa last month to meet with federal officials and inform them on the positive impact of a cashless operation.
As it turned out later, the several-day visit appeared to be more informative for the Ottawa hosts, as Delta Mayor stated that politicians had not entertained the idea of a casino venue sans the cash. The trip cost about CA$20,000 and all conclusions resulting from it would be issued in the form of a report in the upcoming weeks, paving the way for progress.
