B.C. casinos are required to label and report cheques issued to customers who bring in cash and redeem chips.

B.C. casinos track cheques traded for cash

Man arrested at Chilliwack had thousands in cash and casino cheques, civil forfeiture office going to court to confiscate it

Rules are in place to prevent money laundering in B.C. casinos, an industry spokesman says after details of an effort to conceal more than $2 million came to light.

Ernest Yee, executive director of the B.C. Gaming Industry Association, said casinos are required to label all cheques issued to customers. If they buy chips with cash and then return most of the chips for a cheque, the cheque is branded “return of funds – not game winnings.”

The attempted transaction and the identity of the person are to be reported to the federal Financial Transactions and Reports Analysis Centre (FINTRAC).

“The cheque branding makes it clear that the funds were not derived from casino winnings and creates an audit trail for law enforcement when the cheque passes through the banking system,” Yee said.

Yee was responding to a call for stricter casino regulations this week from NDP leader John Horgan.

Horgan referred to a case stemming from a traffic stop by RCMP at a Chilliwack casino in October 2015. According to court documents, the driver was found leaving his car in a parking spot reserved for disabled people. Inside the car were $12,000 cash and $29,000 worth of cheques issued by Lake City Casino, which has locations in Vernon, Kelowna and Penticton.

A second search of the same man’s car in December turned up $25,405 in cash, along with pills and crack cocaine.

B.C.’s Civil Forfeiture office has applied to court to seize the money and the 2014 Camaro the man was driving as proceeds of crime. The suit alleges the man has laundered more than $2 million in drug dealing profits through casinos in B.C. from November 204 to October 2015.

 

Just Posted

New Coast Guard ship crashes into Ogden Point breakwater

‘It is fairly unprecedented that it would happen’

Sidney group offers free, fun ‘trishaw’ bike rides to seniors

Physical disability and mental obstruction no barrier to trips around town

Student Voice: Vic astronomer tracking the New Horizons path

Local astronomer part of team studying New Horizons spacecraft

Second non-stop flight added between Prince George and Victoria

Starting June 23 flyers will have the choice of flying in the morning or afternoon

The shores will not rock in 2019

Atomique Productions announce Rock the Shores festival will not return in 2019, future is uncertain

Victoria hosts ‘Ultimate Hockey Fan Cave’

The hockey cave was recently featured on a Netflix special

Judges on Twitter? Ethical guidance for those on the bench under review

Canadian judges involvement in community life are among issues under review

Trudeau calls May 6 byelection for B.C. riding of Nanaimo-Ladysmith

The riding opened up when Sheila Malcolmson resigned in January

Calgary captain has 3 points as Flames torch Canucks 3-1

Giordano leads way as Alberta side cracks 100-point plateau

Fire crews battle large blaze at Courtenay hostel

Courtenay Fire Chief Don Bardonnex said nobody was injured

1,300 cruise ship passengers rescued by helicopter amid storm off Norway’s coast

Rescue teams with helicopters and boats were sent to evacuate the cruise ship under extremely difficult circumstances

B.C. university to offer first graduate program on mindfulness in Canada

University of the Fraser Valley says the mostly-online program focuses on self-care and well being

Province announces $18.6 million for B.C. Search and Rescue

The funding, spread over three years, to pay for operations, equipment, and training

Late-season wave of the flu makes its round in B.C.

BC Centre for Disease Control reported 50 per cent jump in flu cases in first weeks of March

Most Read