British Columbia’s casinos need help observing new AML rules

British Columbia’s provincial gambling monopoly has hired a third-party auditor in the hopes of reducing sketchy transactions at its land-based casinos.

On Tuesday, the British Columbia Lottery Corporation (BCLC) announced that it had “engaged a third-party auditor to undertake independent monitoring at BC’s three busiest casinos to support their compliance” with the new ‘source of funds’ requirements for transactions over C$10k that were implemented in January.

Amazingly, BCLC indicated that its initial monitoring of the three casinos’ compliance with the new rules “determined the need for the additional third-party oversight.” The third-party oversight “will continue until BCLC is satisfied that its service providers are fully compliant.”

The three casinos are River Rock Casino Resort in Vancouver, the Grand Villa Casino in Burnaby and the new Parq Vancouver, which only opened one year ago. River Rock in particular has loomed large in the damning media reports of Chinese VIP gamblers laundering millions of dollars through BC casinos, which first became public knowledge in September 2017 after a new provincial government took office.