B.C. casinos are required to label and report cheques issued to customers who bring in cash and redeem chips.

B.C. casinos track cheques traded for cash

Man arrested at Chilliwack had thousands in cash and casino cheques, civil forfeiture office going to court to confiscate it

Rules are in place to prevent money laundering in B.C. casinos, an industry spokesman says after details of an effort to conceal more than $2 million came to light.

Ernest Yee, executive director of the B.C. Gaming Industry Association, said casinos are required to label all cheques issued to customers. If they buy chips with cash and then return most of the chips for a cheque, the cheque is branded “return of funds – not game winnings.”

The attempted transaction and the identity of the person are to be reported to the federal Financial Transactions and Reports Analysis Centre (FINTRAC).

“The cheque branding makes it clear that the funds were not derived from casino winnings and creates an audit trail for law enforcement when the cheque passes through the banking system,” Yee said.

Yee was responding to a call for stricter casino regulations this week from NDP leader John Horgan.

Horgan referred to a case stemming from a traffic stop by RCMP at a Chilliwack casino in October 2015. According to court documents, the driver was found leaving his car in a parking spot reserved for disabled people. Inside the car were $12,000 cash and $29,000 worth of cheques issued by Lake City Casino, which has locations in Vernon, Kelowna and Penticton.

A second search of the same man’s car in December turned up $25,405 in cash, along with pills and crack cocaine.

B.C.’s Civil Forfeiture office has applied to court to seize the money and the 2014 Camaro the man was driving as proceeds of crime. The suit alleges the man has laundered more than $2 million in drug dealing profits through casinos in B.C. from November 204 to October 2015.

 

Just Posted

Bulkley Valley sends 13 athletes to BC Games

The Bulkley Valley will be well represented at the BC Winter Games in Kamloops Feb. 22-25.

Over 100 at another Classic day at BV Nordic Centre

Bulkley Valley Cross Country Ski Club welcomed 109 athletes to Chris Dahlie Open/Teck Northern Cup 2

Record snow on ground three times average

Environment Canada says there’s 94 cm of snow at the airport. Average for this time of year is 29 cm.

Recycle BC trashing contract with Bulkley Valley Bottle Depot

Depot will explore other options to be able to remain a one-stop shop for recycling

Carter Harris charity basketball game

VIDEO from the Carter Harris charity basketball game. Find out how you can help.

Carter Harris charity basketball game

VIDEO from the Carter Harris charity basketball game. Find out how you can help.

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

VIDEO: Protesters rally for affordable housing ahead of B.C. budget

Residents call on province to keep locals housed

#Metoo movement causing confusion in many men, fear of missteps with women: experts

Being painted by the same sweeping brush as those alleged to have mistreated women has angered men

Liberals to dig deeper, aim higher on gender equality in 2018 federal budget

Finance Minister Bill Morneau said the budget would include measures to boost women in the workforce

Body of missing skier found

Man’s truck found in Revelstoke Mountain Resort’s parking lot covered in ‘several days’ snow’

Thrilling finish to 59th All Native Tournament

Kitamaat, Hydaburg, Port Simpson and Kitkatla win championships in 2018 All Native Tournament

B.C. VIEWS: Subsidy supercluster settles in B.C.

Ottawa, Victoria add to their overlapping ‘innovation’ budgets

Most Read