Concerns over money laundering may stop new casino in Vancouver

Plans for a new mega casino with up to 1500 slots and 150 tables could be scuppered due to worries about money laundering. Politicians in Vancouver, British Columbia, Canada are concerned that current regulations are not tough enough to stop organise crime getting in on the act if such a new casino were to open its doors; Vancouver already has a casino known as Edgewater which has been in operation for a couple of years and the intention would be for the new casino to be operated by the same people. Onlinecasino.ie casino news has learned that concern has increased however since the British Columbia Lottery Corporation was fined over $650,000 by the money laundering watchdog for lack of care in cash transactions and with large casinos goes large amounts of money. There are reported to have been other cases such as when a man brought more than $1,000,000 in chips into a casino and requested it to be changed into cash which was not reported as it was not deemed unusual. Religious and community groups have been against casinos for some years fearing problem gambling and crime but it appears the region has been spared most of the petty crime that might have ensued but large scale money laundering would be a different issue. Councillors generally have not been against casinos or gambling in the region but they would like a larger share of the proceeds.