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

Oak Bay father charged with double murder takes the stand

Andrew Berry pleaded not guilty to the December 2017 deaths of his two daughters

Week-long Victoria Royals training camp starts Thursday

Rookie camp team names harken to older hockey clubs in the region

PHOTOS: Check out the bells and whistles added to Westhills Stadium

Rick Stiebel/News Staff Clusters of tradespeople buzzing around busy with last-minute preparations… Continue reading

Victoria contractors file civil claims for work on Sooke Tim Hortons, Petro Canada

Contractors file civil suits against Petromaxx, T’Sou-ke First Nation

PHOTOS: Water gun-toting kids of all ages storm Fort Rodd Hill

Aug. 17 event inspires soggy smiles all around

VIDEO: Title of 25th Bond movie is ‘No Time to Die’

The film is set to be released in April 2020

POLL: Should there be a ban on gas-powered leaf blowers?

We’ve all heard them, and most likely cursed them under our breath.… Continue reading

Greater Victoria wanted list for the week of Aug. 23

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

B.C. seniors allowed more choice to stay in assisted living

Province doesn’t need to wait for a complaint to investigate care, Adrian Dix says

Liberals block hearings into scathing ethics report on SNC-Lavalin affair

Dion concluded in his report last week that Trudeau broke the Conflict of Interest Act

Retired Richmond fisherman wins record-breaking $60M Lotto Max jackpot

Joseph Katalinic won the biggest Lotto Max prize ever awarded

Island manslaughter suspect found not guilty in Supreme Court

Court accepts accused’s argument of self-defence for 2017 incident in Courtenay

‘Unsubstantiated’ bomb threat against CP Rail in Revelstoke

On Aug. 18, a bomb threat was made against CP Rail in Revelstoke

Most Read