Tag Archives: Money Laundering
Canada – British Columbia awaiting new money laundering laws
British Columbia is to crack down on money laundering in its casinos following accusations from Attorney-General that the practice is ‘widespread.’ Attorney-General David Eby is awaiting the findings of Peter German, who was appointed to investigate ‘some serious allegations about widespread, trans-national money laundering in gaming facilities in the Lower Mainland.’ “The report will really…
Latin America – US Government highlights money laundering concerns in Latin American gaming
The 2017 International Narcotics Control Strategy Report (INCSR) – an annual report prepared by the Department of State to Congress – has highlighted a number of concerns when it comes to money laundering as well as other financial crimes when it comes to gaming in a number of jurisdictions in Latin America. In Costa Rica…
Canada – Great Canadian Gaming investigated over money laundering claims
River Rock Casino Resort, located south of Vancouver is being investigated by British Colombia’s Gaming Policy and Enforcement Branch, after it accepted $11m in C$20 bills in just one month in July 2015. Attorney General David Eby has released a 2016 MNP report on anti-money laundering practices in BC casinos and announced a review to…
Mexico – Casinos in Nuevo León linked to money laundering claims
Samuel GarcÃa, coordinator of political party The Citizens’ Movement (Movimiento Ciudadano) and Deputy for Nuevo León has stated said that during the administration of former governor of the state Rodrigo Medina, no casino was audited in six years, because they were in all likelihood linked to organised crime. “It is no coincidence that organised crime…
Dominican Republic – Anti-money laundering rules will apply to entire Dominican Republic gaming sector
Presidency Minister of the Dominican Republic, Gustavo Montalvo, has clarified that betting and lottery games will not be excluded from within the scope of new laws on money laundering. The official explained that it will not only be casinos which will be legally required to meet with new anti money laundering measures but also those…
Belgium – ECA slams money laundering ‘myths’
The European Casino Association has refuted claims in a report by Transparency International, the well-respected Non-Governmental Organisation, where it illustrated ways in which someone could lauder money in a European casino. The first money laundering scenarios in casino operations laid out in the report consists of buying chips in large numbers and in cash, gambling…
Costa Rica – Costa Rica puts new measures in place to regulate gaming
Costa Rica’s financial system regulator SUGEF (The General Superintendence of Financial Institutions) has proposed that it should be the new body to regulate gaming in order combat money laundering. The move aims to protect those venues operating within current laws such as Casino Fiesta in Alajuela, pictured here. It is one of a number of…
Saipan – Imperial Pacific denies money laundering investigation
Imperial Pacific’s gaming vehicle Best Sunshine International, operator of a casino in the pacific island of Saipan, has seen its share price fall to an 18 month low, following reports it is being investigated by the US Treasury’s Financial Crimes Enforcement Network. Imperial Pacific was keen to highlight that Best Sunshine hadn’t received any official…
Brazil – Delay with Gaming Act in Brazil over money laundering fears
Gaming law in Brazil faces another setback as senators have decided to re-examine draft law which had already been approved in committee stage. Brazil’s new gaming act will be once again be sent to the The Special Committee on National Development in the Senate for debate before it can be sent before the full Senate…
