Money Laundering has been one of the focused issues of our community today.
Money Laundering has been widely used by crime syndicates to perform illegal transactions and schemes all over their operation. The Money Laundering Act has been changing in definition as it goes continuously in our society with no definite culprits to capture.
And this issues has been sampled in a situation in British Columbia a few days ago.
Federal watchdog monitoring money laundering states that BC (British Columbia) casinos has processed approximately around $23.8 million in covert transactions, nearly bringing it to almost twice as they did as last years' report on the same issue.
According to the federal watchdog, Starlight Casino and the River Rock Casino have both been included in the large covert transactions that totaled into over millions of dollars.
It also reported that a set of covert transactions were made up to 90 time totaling into $8 million, each transaction taking place almost everyday.
Being not a legal matter at all, the situations were not reported immediately upon discovery into the police department.
Therefore, there were some speculations that the covert money laundering transactions made includes different schemes of large crime syndicates.
On various but related situations, some customers of the said casinos were allowed to spend almost half a million dollar or more only at their $20 bills.
Even when it was astonishingly suspicious, casino staffs allowed this kind of practice to take place.
Up until now, both parties (Starlight Casino and River Rock Casino) are undergoing investigations to examine and collect enough evidences to prove whether they are possible of Money laundering activities and if they have any connections with these on their own premises.
Due to its weak gambling authority, the British Gambling authorities are again in trouble with the government as they cannot control these kinds of activities. Recently, same issue went against the said authority regarding their inability to control online gambling ventures and problem gamblers.