Money laundering and gambling
Last updated on June 15, 2023Since 2017, both the Gaming Policy and Enforcement Branch (GPEB) and British Columbia Lottery Corporation (BCLC) have strengthened policies and initiatives to prevent money laundering in gambling facilities.
The GPEB regulates all gambling in British Columbia and ensures the integrity of the gambling industry. The BCLC is responsible for conducting and managing gambling in B.C. on behalf of the provincial government.
Measures in place
Gaming Control Act: In November 2022, government passed the new Gaming Control Act. The new act strengthens the authority of the regulator to set and enforce regulations to prevent money laundering and other unlawful activity and adopts recommendations from the German Report and the Cullen Commission Final Report. When the new act comes into force, government also intends to transition GPEB to the Independent Gambling Control Office.
Source of funds declaration: Since January 2018, BCLC has required that anyone buying-in with cash, a bank draft, or a certified cheque of $10,000 or more in one or more transactions within a 24-hour period to complete a source of funds declaration and provide a receipt. This policy has resulted in a decline in suspicious transactions in B.C. casinos. Additionally, in 2021, BCLC began requiring casinos to verify people’s identities for all buy-ins of $3,000 or more in a single transaction.
When the new Gaming Control Act comes into force, BCLC, gaming services providers, and gaming workers will be required by law to refuse large transactions from patrons who do not meet source of funds requirements set by the general manager.
Regulator Presence in Casinos: Regulators are now present in casinos to respond to incidents of money laundering and other criminal activity related to gambling. Twelve investigators provide coverage seven days a week for 14 hours a day at the five largest Lower Mainland casinos.
Collaborative Initiatives: A number of collaborative initiatives have been taken across organizations to ensure effective information sharing and coordinated responses to money laundering risks.