BCLC's Anti-Money Laundering Program
BCLC invests substantial resources to continuously monitor and improve our anti-money laundering (AML) program. Below are just some of the steps that BCLC has taken since 2012 to safeguard B.C. casinos.
- BCLC encourages non-cash transactions. In 2012, BCLC implemented policy changes to enable B.C. casinos to offer Patron Gaming Fund (PGF) accounts. This allows players to transfer money from their bank accounts into a separate gaming account, eliminating the need to bring cash into a casino.
- BCLC has a dedicated AML Unit and requires and supports AML training for all service provider staff in casinos. BCLC’s dedicated AML unit is staffed with internationally certified AML investigators and certified intelligence analysts. All casino employees are also trained to identify, report and help prevent money laundering.
- BCLC has an Information Sharing Agreement with police to support us in identifying and proactively banning individuals whose presence is undesirable from casinos, such as those who are suspected of criminal activity, believed to be a public safety risk or members of organized crime groups. Since the establishment of the Information Sharing Agreement in 2014, BCLC has barred more than 440 individuals from casinos. BCLC also supports civil and criminal prosecutions by providing evidence and expert testimony as required.
- BCLC requires and supports AML training for all service provider staff in casinos to ensure that employees know how to identify, report and help prevent money laundering.
- BCLC requires casinos to clearly label all cheques as “return of funds – not gaming winnings” or as “verified win” to prevent individuals from buying-in with large amounts of cash, playing nominally and cashing out with a generic casino cheque.
- BCLC began placing certain players on sourced-cash conditions in 2015, meaning that they cannot buy-in with any amount of cash unless they disclose their source of funds.
- Today, anyone who tries to buy-in with $10,000 or more in cash must prove where the funds came from before they can do so. BCLC implemented this policy in 2018 in response to the German Report’s recommendation, requiring casino operators to complete a Source of Funds Declaration for all cash and bank draft/certified cheque buy-ins of $10,000 or more. In addition, casinos have the discretion to ask anyone to provide the source of their funds, regardless of amount.
- Casinos are also required to verify the identity of individuals for all buy-ins of $3,000 or more in a single transaction. BCLC implemented this policy in 2021 in response to regulatory amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
- BCLC monitors, controls and reports suspicious transactions of any amount in casinos, including the exchange of small-denomination bills for large-denomination bills and casino chips between patrons. We also take steps to know our players, including using various intelligence tools and methods to confirm the identity of those suspected to be engaged in suspicious activities.
- BCLC verifies all PlayNow.com accounts before they are available for login, including through reviews of a player’s government-photo identification and credit history. With fully account-based play, BCLC can effectively oversee all transactions and players on PlayNow.com.
- BCLC continues to work with Government on implementation of recommendations from Dr. Peter German’s 2018 independent review of Anti-Money Laundering Policies and practices in Lower Mainland casinos. To date, BCLC has addressed all of the recommendations for which it is responsible.
For a more detailed view of the history of BCLC’s actions, please download our Anti-Money Laundering Actions PDF fact sheet.
Last updated: June 29, 2021
Did you know?
The Commission of Inquiry into Money Laundering in B.C. granted BCLC participant standing in regards to the gaming and horse racing sectors.