The Canadian Gaming Association (CGA) has welcomed recommendations by the Hon. David Eby, British Columbia’s Attorney General, to the House of Commons Finance Committee as part of its review of the Proceeds of Crimes (Money Laundering) and Terrorist Financing Act.
Minister Eby’s request for enhanced information sharing between law enforcement and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and for proper resources to be directed to the RCMP’s Proceeds of Crime and Commercial Crimes Sections are steps that will enhance efforts to combat white-collar crime.
The gaming industry in Canada, made up of private sector casino service providers and crown lottery corporations, is the first line of defence in the battle to deter criminals from using casinos to launder proceeds of crime.
Recent events in British Columbia have demonstrated that reporting agencies such as casino operators are doing excellent work at identifying, collecting and reporting suspicious financial transaction. A prime example of this cooperation is that key information was provided by the gaming industry for the RCMP’s ePirate investigation.
“It’s clear that preventing money laundering is a partnership and that all agencies have a role to play,” commented Paul Burns, President and CEO of the CGA. “Law enforcement’s role is particularly important, as those organisations have investigative and apprehension powers, which are clear deterrents to those considering engaging in illicit activity.”