Experts have warned that money laundering by criminal groups is still possible in Quebec casinos and game centers. 온라인카지노 Over the past few years, provincial organization Roto Quebec has reported large cash transactions worth more than C$420 million in game properties to the country’s anti-money laundering organization, according to a recent report.
It is very common for organized crime groups in certain areas to use casino properties to launder dirty money. And by Canadian law, casinos are required to report questionable cash transactions and large cash transfers of more than CA$10,000 to the Financial Transactions and Report Analysis Center. FINTRAC’s mandate is then to investigate potential money laundering threats.
Between the 2015-2016 fiscal year and the 2019-2020 fiscal year, Roto Quebec reported to FINTRAC a large annual cash transaction of CA$77 million. This translates into about 5,000 transactions per year or 14 transactions per day. And the numbers have remained relatively consistent for years. Meanwhile, the number increased from 254 in 2015-2016 to 395 in 2019-2020.
Matt Maguire, an internationally recognized money laundering expert, said he was not surprised that the Royal Family is now reporting a more suspicious deal. In his opinion, I think it can be more prudent now, because a few years ago the British Royal Family was subject to administrative action for failing to comply with provincial regulations a few years ago. In February 2020, the Royal Family received a fine dating back to the 2012 breach.
In November 2020, after an investigation by French-language media TVA, the Crown Agency’s activities were questioned. It claimed notorious organized crime gang members enjoyed benefits such as free hotel rooms, meals and shows at Crown’s Casino Montreal. An independent audit was then launched to investigate how casinos operate and monitor their loyalty programs.
The survey was conducted by consulting firm Deloitte, which paid nearly C$300,000 to do so. The audit results were announced in the summer of 2021, but no discrepancies were found in Crown’s operations. The Crown then implemented a policy banning athletes with high-risk profiles, allowing them to revoke membership in the loyalty program.
This summer, casino Montreal has once again been linked to controversy. In May 2022, a report showed that a legitimate casino generated a commission of nearly C$260,000 in connection with a suspected money transaction on the site. This was related to a fine of CA$147,000 imposed by FINTRAC on Crown Corporation in 2020.
According to it, the game leader has not been able to report multiple larger money transactions made by one of the casino’s customers since 2011. Over the next six years, Crown Corporation then challenged a fine that turned out to be quite costly when it came to legal fees. After that, the accumulated amount exceeded the sum of the original fines.