British Columbia Casinos Go Cash-Free

 To decrease the amount of money laundering that takes place in provincial casinos, the British Columbia Lottery Commission has announced an initiative that would transition away from the use of cash at land-based casinos.

The government decided to make these changes after a report was released that indicted a high volume of suspicious activities taking place in B.C. casinos. According to the report, $8 million in suspicious transactions were processed last year, an alarming figure. Police believe that organized crime syndicates target casinos and gambling venues, and this new initiative aims to crack down on that. 

A definite time table has yet to be devised, but there are a few plans that will take effect immediately. Firstly, players will no longer be able to buy chips or credits with cash. They will be required to pay with certified cheques or electronic fund transfers from Canadian financial institutions. Additionally, payouts greater than $5000 will be rewarded via cheques. 

Additionally, staff will be given more training with regards to identifying money laundering as well as teaching them how to deal with it should they ever encounter someone trying to commit the crime. Casinos will also work more closely with local police to fight money laundering. 

 

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