Auditor General Probes Casino Anti-Money Laundering Protocols
Auditor General Bonnie Lysyk published her annual report to the legislature. She recommends doubling down efforts to tackle money laundering attempts at the province's casinos. Ms. Lysyk hired and sent mystery shoppers for a sting operation at four Ontario casinos in Greater Toronto Area, Niagara Falls, and Windsor. They were tasked with testing each casino’s anti-money laundering protocols.
Mysterious shoppers tried to launder money in two casinos. They were able to obtain casino cheques with large amounts of cash without confirming the source of funds. The Auditor General recommends that all casinos should implement measures to prevent money laundering. The OLG will put more effort to ensure compliance with its anti-money laundering framework. Crown promises to work with casino operators to review additional cheque issuance rules. It also agrees that there is a need to address money-washing risks at its brick-and-mortar amenities.
There is a problem of money laundering in casinos in other Canadian provinces. British Columbia was involved in a money-washing controversy, as organized crime groups used provincial casinos to launder their crime-originated money. Quebec casinos could still be targets of criminals’ moneyaundering attempts.