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Fine comes for failing to adequately identify and report potential money laundering at Pickering Casino Resort
The Alcohol and Gaming Commission of Ontario (AGCO) has ordered monetary penalties totalling $170,000 on Great Canadian Entertainment (GCE) for failing to adequately identify, assess and monitor high-risk patrons and report suspicious activity, including potential money laundering indicators at Pickering Casino Resort.
An AGCO compliance audit of Pickering Casino Resort identified several failures by GCE to properly assess and track high-risk patrons that were not subject to required enhanced scrutiny. The review also found that required Suspicious Transaction Reports were not filed in a number of cases where patrons showed potential money laundering indicators.
Ontario’s gaming standards require casino operators to have effective measures in place to identify and respond to suspicious activity – including reporting suspected money laundering. Meeting these obligations is essential to maintaining a safe and well-regulated gaming environment. When this doesn’t happen, it weakens safeguards designed to detect unlawful conduct and can undermine public confidence in Ontario’s regulated gaming sector.
A casino operator served with an Order of Monetary Penalty has the right to appeal the Registrar’s action within 15 days to the Licence Appeal Tribunal (LAT), an adjudicative body that is part of Tribunals Ontario and independent of the AGCO.
Dr. Karin Schnarr, Chief Executive Officer and Registrar, AGCO, said: “The AGCO requires casino operators to take a proactive approach to identifying and reporting suspicious activity. When high-risk behaviour is not properly monitored or reported, it weakens important safeguards that protect the integrity of Ontario’s gaming sector. The AGCO will continue to hold operators accountable to high standards of responsible operation.”
Great Canadian Entertainment failed to have mechanisms in place to reasonably identify and prevent unlawful activities at Pickering Casino Resort, including by failing to conduct adequate risk assessments and appropriately monitor and analyze player transactions for possible unlawful activity.
Great Canadian Entertainment failed to have reasonable measures in place to identify and prevent suspected money laundering activities at Pickering Casino Resort, including by failing to implement risk-based policies and procedures that provide escalating measures for patrons who engage in behaviour consistent with money laundering indicators.
