On Monday, BCLC delivered its opening statement to the Commission of Inquiry into Money Laundering in British Columbia, with particular emphasis on the organization’s commitment to protect B.C. casinos from criminal activity.
The inquiry was launched by the NDP-headed government as a response to recent reports that identified the gambling sector as one of the fields with possible money laundering issues. While both real estate and luxury car markets are also on the list, CAD$5bn of laundered money in the province was reported in the media for 2018 alone.
According to reports…
…evidence that people had been allowed to enter casinos with large bags of cash without any questions asked was among other things that gave cause for concerns over possible links to money laundering.
During this week, all parties invited to participate in the inquiry are supposed to make their opening statements, with the process planned to continue in May. The main hearings are scheduled to start in December.