New rules are being brought in for big-spending gamblers at British Columbia’s casinos.
The B.C. Lottery Corp. now requires anyone spending $10,000 or more at casinos within a 24-hour period to prove the source of their funds.
The change was prompted by recommendations from former RCMP deputy commissioner Peter German, who was appointed by the province to review policies on money laundering prevention.
The review was launched by Attorney General David Eby after a report was released saying the River Rock Casino in Richmond had accepted $13.5 million in $20 bills within one month, which police said could be proceeds of crime.
The corporation says the new procedure applies to all cash, bank drafts and certified cheques used for buy-ins and the gambler must show a receipt of the transaction from the financial institution where the money was taken.
It says the player must also sign a source of funds declaration form, and if any information appears suspicious or is missing, casinos must refuse the transaction and set off an investigation.
German released a series of interim recommendations in December, ahead of his full report due at the end of March.
The corporation says it is also supporting another recommendation to have investigators on site at high-volume casinos in the Lower Mainland at all times.
All BC Biz Stories