Government discusses money-laundering inquiry in BC

Government discusses money laundering inquiry in BC

The government will determine whether to launch an inquiry on money laundering.

The government of British Columbia will decide whether to launch a money-laundering inquiry, related to future strategies to fight it.

Canada.- The gaming industry is continuously a target of money laundering suspicions. That’s why it may be impacted in British Columbia, following a potential money laundering inquiry.

The government announced it will determine whether there should be an inquiry following a cabinet reunion on Wednesday.

“I think the public wants to see consequences to criminal behaviour that is distorting prices and having an impact on families in this province,” BC premier John Horgan said. “I will have more to say on this after the cabinet has deliberated next week.”

“The decisions of the former government are sealed for a period of time and the new government doesn’t have access. I believe the public should be able to see what the former government knew and when they knew it. An inquiry would insist on getting that information,” he added.

Attorney General David Eby talked about the inquiry on Focus BC and explained the reasons behind it. “The public inquiry really is about public accountability for who knew what when, what decisions could have been made earlier, and was there any corruption really in deciding not to take action.”

Recent investigation

An investigation related to River Rock Casino seems to have ended in favour of the gaming operator. The British Columbia Lottery Corporation (BCLC) explained it found “no systemic pattern of money-laundering activity” related to the Canadian casino.

Ernst and Young carried out a “cheque by cheque analysis” of payments by casino cheques between 2014 and 2016. The BCLC had commissioned the investigation for such payments, worth €6,7k.

According to the BCLC, out of more than 2k cheques, 49 were issued “with exceptions outside of procedure.” That shows the Canadian casino made unwilling mistakes. The regulator said it is “satisfied there was no systemic pattern of money-laundering activity.”

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