Commission of Inquiry into Money Laundering in B.C.
In May 2019, the provincial government announced the Commission of Inquiry into Money Laundering in British Columbia to make findings of fact and recommendations regarding the issue of money-laundering across multiple sectors of B.C.'s economy.
In June 2022, the Commission of Inquiry into Money Laundering in B.C. produced a final report of its findings. Three of the Commissioner's 101 recommendations are directed at BCLC:
- that BCLC move to 100% account-based known play;
- that the threshold for requiring proof of the source of funds for casino transactions conducted in cash and other bearer monetary instruments be lowered to $3,000; and
- that current limits on the amounts that casinos can pay out to patrons in the form of convenience cheques remain in place.
BCLC welcomed the Commissioner's final report and is working with the provincial government to address the three recommendations.
BCLC continues to take action to improve AML programs in B.C. casinos and invests substantial resources to monitor and enhance our AML controls.