Last April, a person entered the Fallsview Casino Resort in Canada and went to the Salon Privé where they presented the money in $100 bills inside a recyclable bag. Once the money was counted and confirmed, the patron left with the casino chips without playing. The Alcohol and Gaming Commission of Ontario (AGCO) issued a penalty to the casino’s operator for failing to meet anti-money laundering (AML) requirements. According to the commission, even though the individual was labeled “high risk,” onsite police and the AGCO weren’t made aware of the transaction. Under AML rules, the operator was required to check the source of the person’s funds; however, this wasn’t done.

According to reports by CTV, “billions of dollars” are laundered through Canada’s casinos. The incident has raised concerns about the effectiveness of anti-money laundering measures in the country’s gambling establishments. The failure of the casino to properly vet the patron who brought CA$80,000 in cash has highlighted the potential vulnerabilities in the system and the need for stricter enforcement and oversight.

The issue of money laundering in casinos is a problem that regulators and law enforcement agencies are working on to address. The case at the Fallsview Casino Resort serves as a reminder of the importance of robust AML measures and the consequences of non-compliance. The AGCO’s penalty to the operator underscores the seriousness of the situation and the need for casinos to be diligent in adhering to AML requirements and regulations.

This incident has not only raised questions about the casino’s handling of the situation, but also about the broader issue of money laundering in the Canadian gambling industry. The spotlight on this case has prompted discussions about how to strengthen AML mechanisms and prevent illicit funds from being funneled through casinos. It is a matter of national concern that requires a concerted effort from all stakeholders to address and rectify. The repercussions of this incident are likely to have far-reaching effects on the industry and may lead to increased scrutiny and stricter protocols in the future. The Ontario Casino’s failure to check the patron who brought CA$80,000 in a bag has brought attention to the urgent need for enhanced AML practices in Canadian casinos.

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