There is a growing concern from the Canadian government, as well as across Canadian provinces about online gambling transactions, as well as money laundering since the popularity of online gambling has increased. There has been proof shown from other countries that criminal activities such as fraud, money laundering, and terrorism can be traced back to transactions being made online, specifically, cash transactions orchestrated through online casinos.
British Columbia’s Lottery Corporation has made a new move that is looking to put a limitation on the total sum of cash that online gamblers are allowed to play with when they play on an online casino site. It is a proactive and preventative measure to take, but definitely a smart move, as it will prevent another Black Friday from happening, and keep players safe, as well as protect them. Earlier in the year, the Department of Justice seized online poker sites that were illegally operating in the United States. Although they were illegal, and did get in trouble for that, one site that really got in major trouble was Full Tilt Poker, because it had come to light that they weren’t running a clean business, with fraud, money laundering, and other crimes they were committing.
To also help deter possible criminal activities, there is a strong preference from the Canadian government to have electronic funding as the payment of choice, simple because there’ll be a paper trail. Cash transactions have no paper trail, and that creates an opportunity for illegal activities to happen.