REPORT: BRITISH COLUMBIA CASINOS ‘LAUNDROMATS’ FOR PROCEEDS OF ORGANIZED CRIME

The Globe & Mail in Canada on 27th June reported on the long-awaited report from the Attorney General on money laundering through the province.  It describes Vancouver as a hub for Chinese organised crime, but also says that Mexican drug cartel money and funds from Middle East organised crime also flowed through.  The report makes 48 recommendations, including a designated police force and specialized prosecutors to help rein in the problem, and further investigation into allegations of organised crime penetration of real estate, as well as into vulnerability of the luxury car sector and horse racing.  The report is said to have concluded the problem amounted to a collective system failure where “nobody said no”; and that the government has benefited from the cash transactions, as revenue from casino gambling is the largest revenues stream for the province aside from taxes.  There was also a “dysfunctional” regulatory system with the BC Lottery Corporation. and the gaming policy and enforcement branch issuing contradictory directives to casino operators.

https://beta.theglobeandmail.com/canada/british-columbia/article-bc-casinos-laundromats-for-proceeds-of-organized-crime-report/

see the news release from the Attorney general’s offices and the full report at –

https://news.gov.bc.ca/releases/2018AG0052-001297

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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