In an article about the Attorney General report on money laundering in casinos in British Columbia, Global News in Canada on 27th June carried an article saying that casino chips are used for far more than just gambling.  Chips are taken from casinos and used “outside casinos to settle loans and to facilitate the movement of money from outside the country”, in a practice commonly known in the industry as “chip walking”.  The report calls for a “chip walking system” to be put in place, perhaps with RFID technology.  Chip walking isn’t seen as a major threat in British Columbia, the article says, but the experience has been different elsewhere – citing a 2014 speech by a former director of Fincen, who told a bank secrecy conference that she was concerned about the practice.  In 2015, the report says, a large number of $5,000 chips went missing from the River Rock Casino: valued at between $4.4 million and $13.6 million.


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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