B.C. casinos are required to label and report cheques issued to customers who bring in cash and redeem chips.

B.C. casinos track cheques traded for cash

Man arrested at Chilliwack had thousands in cash and casino cheques, civil forfeiture office going to court to confiscate it

Rules are in place to prevent money laundering in B.C. casinos, an industry spokesman says after details of an effort to conceal more than $2 million came to light.

Ernest Yee, executive director of the B.C. Gaming Industry Association, said casinos are required to label all cheques issued to customers. If they buy chips with cash and then return most of the chips for a cheque, the cheque is branded “return of funds – not game winnings.”

The attempted transaction and the identity of the person are to be reported to the federal Financial Transactions and Reports Analysis Centre (FINTRAC).

“The cheque branding makes it clear that the funds were not derived from casino winnings and creates an audit trail for law enforcement when the cheque passes through the banking system,” Yee said.

Yee was responding to a call for stricter casino regulations this week from NDP leader John Horgan.

Horgan referred to a case stemming from a traffic stop by RCMP at a Chilliwack casino in October 2015. According to court documents, the driver was found leaving his car in a parking spot reserved for disabled people. Inside the car were $12,000 cash and $29,000 worth of cheques issued by Lake City Casino, which has locations in Vernon, Kelowna and Penticton.

A second search of the same man’s car in December turned up $25,405 in cash, along with pills and crack cocaine.

B.C.’s Civil Forfeiture office has applied to court to seize the money and the 2014 Camaro the man was driving as proceeds of crime. The suit alleges the man has laundered more than $2 million in drug dealing profits through casinos in B.C. from November 204 to October 2015.

 

Just Posted

Port Alice Health Centre receives special appreciation

Society makes luncheon to recognize healthcare staff

Port Hardy approves the first step towards new subdivision

Mayor and council pass rezoning needed for new development

Windmill blade display finds a home in Port Hardy

The blade will be installed on the corner of Highway 19 and the Bear Cove Highway

Port Harvey shipyard greenlit

Bylaw 895 has been adopted by RDMW

Port McNeill Volunteer Fire Department appoints deputy chief

Port McNeill Fire Chief Dean Tait has appointed 10+ year firefighter veteran… Continue reading

VIDEO: After the floods, comes the cleanup as Grand Forks rebuilds

Business owners in downtown wonder how long it will take for things to go back to normal

Tyson’s Thoughts: History in the making at Port McNeill totem pole ceremony

The crowd of 1,200-1,500 people, young and old, were clearly thrilled to be there to witness history

Vancouver Island wildfire burning near Campbell River coal mine

The fire is suspected to be human caused at this time

Big brew tanks headed for Chilliwack wrapped to look like beer cans

Snap a #beertanks selfie if you see massive tanks en route to Chilliwack

TransLink to ‘pause’ Morgan Freeman PSAs after sexual harassment allegations

Eight women told CNN they were sexually harassed by the Hollywood actor

UPDATE: Two-year-old found unresponsive in pool passes away

Mission RCMP located toddler after she went missing from a local daycare

Toronto opening 800 emergency spaces to deal with influx of refugee claimants

Beginning Thursday, Toronto will temporarily house refugee claimants and new arrivals in 400 beds in the city’s east end.

Breaking: Trump cancels summit with North Korea

Trump cancels June 12 summit with North Korea’s Kim, citing ‘tremendous anger and open hostility’ in recent statement

Rivers rising: Floods in B.C., New Brunswick a warning of what’s to come

In B.C., thousands of residents are returning to homes this week marked with red or yellow signs indicating a health inspection is necessary

Most Read