BCLC engages auditor to support anti-money laundering program
October 31, 2018
Monitoring underway to ensure integrity of source of funds reporting
BCLC is taking action to ensure that its Casino Service Providers are completely and accurately recording information regarding the source of players’ funds as part of its commitment to the prevention of money-laundering activities in B.C. casinos
BCLC has engaged a third-party auditor to undertake independent monitoring at B.C.’s three busiest casinos to support their compliance with BCLC’s Source of Funds declaration requirements, implemented in January 2018 following an interim recommendation from Dr. Peter German as part of his independent review of B.C.’s anti-money laundering policies and practices in Lower Mainland casinos.
“As an industry, we are actively engaged and committed to continually improving the anti-money laundering practices in B.C. casinos to stay current with an ever-changing challenge,” said Jim Lightbody, President and CEO, BCLC. “For instance, it is essential that BCLC work together with our casino service providers to ensure that source of funds declarations completely and accurately record the necessary information as one means to help keep dirty money out of B.C. casinos.”