Canada’s premier entertainment provider Great Canadian Gaming Corporation has released a statement of commitment to fighting money laundering and the financing of terrorism through British Columbia casinos. The company known to operate 22 gambling facilities, including River Rock Casino which found itself at the at the heart of the money laundering scandal, posted an official statement on its website, underlining that Great Canadian Gaming Corporation has always remained compliant with the British Columbia Lottery Corporation (BCLC) regulations. The company’s statement further reads that Great Canadian Gaming Corporation has always been supportive to the anti-money laundering processes and it has actively participated in combating illicit deeds.
Following the latest shocking revelations regarding a year-old casino report, which signals for an intricate money laundering scheme at the River Rock Casino Resort in Richmond, Great Canadian Gaming Corporation released a report to clear its reputation from all the attacks. The company took the opportunity to shatter any speculations that Great Canadian Gaming Corporation is a subject of investigation. River Rock Casino operator also refused any allegations that its casino workers lack the needed anti-money laundering training. The company’s statement even claims that employees at River Rock Casino work hand-in-glove with investigators, helping them to find the wrongdoers and prevent any further misuse of gambling facilities throughout British Columbia.
The provider elaborated that River Rock is subject to 25 compliance reviews conducted by BCLC Gaming Compliance Officers. Apart from that, the statement explains that Richmond’s casino is checked for its compliance with B.C. anti-money laundering rules in every 2 years. As a matter of fact, B.C. casinos file suspicious transaction reports to BCLC, which is responsible for alerting Canada’s financial watchdog FINTRAC. The company also denied the possibility to exchange large amounts of money for cheques. According to the company’s statement, players are only allowed to receive a cheque for their winnings, which does not include the initial buy-in as it is paid back to the player in cash.
Great Canadian Gaming Corporation Measures to Combat Money Laundering
The gambling operator explained that it has taken tough measures to prevent money laundering practices in its gambling venues. According to the company, players can receive cheques for either for their winnings, or the so-called “convenience cheque”, which pays back the initial buy-in to the players but only if it does not exceed $10,000 and only once a week. The third way for players to receive a cheque from a BC casino is to receive a cash from their patron gaming fund (PGF) account, which can be established with money from a financial institution.
In addition to that, the company stated that it invests between $300,000 and $400,000 per year to improve its surveillance systems in its gambling facilities. The casino also employs 50 people responsible for the surveillance and 75 security guards. In conclusion, Great Canadian Gaming Corporation pointed out that it is well ahead of any other gambling operator when it comes to anti-money laundering measures and has always remained in compliance with the country’s requirements.
