{"id":91262,"date":"2018-10-25T15:30:56","date_gmt":"2018-10-25T22:30:56","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=91262"},"modified":"2018-10-25T14:55:14","modified_gmt":"2018-10-25T21:55:14","slug":"bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/","title":{"rendered":"BC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions"},"content":{"rendered":"

It seems that British Columbia\u2019s (BC) gaming regulator no longer trusts some of its workers to do their jobs.<\/p>\n

The British Columbia Lottery Corporation (BCLC) has seemingly had enough of the shenanigans at local casinos and has now decided to bring in a third party to make sure all the rules are being followed.<\/p>\n

\"BC
Vancouver\u2019s new Parq Casino will be one of three facilities to be audited by a third-party observer. (Image Source: The Georgia Straight)<\/figcaption><\/figure>\n

The body announced this week that it will bring in outside auditors to \u201cundertake independent monitoring of BC\u2019s three busiest casinos to support their compliance.\u201d<\/p>\n

It comes at a time when provincial casinos are under heavy scrutiny for allegedly allowing money laundering, as well as cash transactions well beyond allowable limits.<\/p>\n

\u201cIt is essential that BCLC work together with our casino service providers to ensure that source of funds declarations completely and accurately record the necessary information as one means to help keep dirty money out of B.C. casinos,\u201d declared BCLC CEO Jim Lightbody in a statement.<\/strong><\/p><\/blockquote>\n

Eyes on the Ground Join the Eye in the Sky<\/strong><\/h2>\n

The additional checks will be implemented at three casinos \u2013 The River Rock Rock Casino in the suburb of Richmond, the Grand Villa Casino in neighboring Burnaby, and the brand new Parq Casino in downtown Vancouver.<\/p>\n

The extra set of eyes will focus on making sure that Casino Service Providers are properly documenting all cash transactions of $10,000 or more. \u00a0That\u2019s the financial threshold before a transaction must be reported to financial regulators.<\/p>\n

In late August, reports surfaced that casino employees had shredded records of large cash transactions<\/a>. In theory, that would allow a casino patron to make multiple transactions of over $10,000 in a single day, without it having to be reported.<\/strong><\/p>\n

That revelation came on the heels of a bombshell report<\/a> called \u201cDirty Money,\u201d which outlined how international criminal organizations had for years been using BC\u2019s casinos launder their money.<\/p>\n

Those findings have since sparked subsequent investigations, including a look at how that influx of money may have affected soaring real estate prices in Vancouver.<\/p>\n

Clamping Down<\/strong><\/h2>\n

The extra enforcement won\u2019t be limited to simply monitoring large transactions.<\/p>\n

In addition to those strict new checks, regulators have also installed new procedures to ensure they know exactly where any large sums of money are coming from.<\/p>\n

\n
    \n
  • Casino workers must gather a \u201csource of funds declaration\u201d for all transactions of $10,000 or more.<\/li>\n
  • The customer is required to provide information on the bank, branch, and account number associated with their buy-in.<\/li>\n
  • \u00a0If the patron can\u2019t provide the required information, or refuses to provide a signature on the declaration, the transaction must be declined, and the casino is required to notify gaming officials.<\/li>\n<\/ul>\n<\/div>\n

    Prior to those rules being implemented, one Vancouver-area casino reportedly took in some $2.5 million in transactions over $10,000 between 2017 and 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"

    It seems that British Columbia\u2019s (BC) gaming regulator no longer trusts some of its workers to do their jobs. The British Columbia Lottery Corporation (BCLC) has seemingly had enough of the shenanigans at local casinos and has now decided to bring in a third party to make sure all the rules are being followed. The […]<\/p>\n","protected":false},"author":37,"featured_media":91263,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,18],"tags":[],"acf":[],"yoast_head":"\nBC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions<\/title>\n<meta name=\"description\" content=\"BC casinos will now be under the watchful eye of a third-party auditor, as provincial regulators look to crack down on criminals who launder money through provincial gaming floors.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions\" \/>\n<meta property=\"og:description\" content=\"BC casinos will now be under the watchful eye of a third-party auditor, as provincial regulators look to crack down on criminals who launder money through provincial gaming floors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-25T22:30:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-10-25T21:55:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/parq_vancouver_main.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"781\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cort Smith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cort Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/\",\"url\":\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/\",\"name\":\"BC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/parq_vancouver_main.jpg\",\"datePublished\":\"2018-10-25T22:30:56+00:00\",\"dateModified\":\"2018-10-25T21:55:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/20db7dec4c6b349b19992217f9a7df7d\"},\"description\":\"BC casinos will now be under the watchful eye of a third-party auditor, as provincial regulators look to crack down on criminals who launder money through provincial gaming floors.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/parq_vancouver_main.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/parq_vancouver_main.jpg\",\"width\":1200,\"height\":781,\"caption\":\"Vancouver\u2019s new Parq Casino will be one of three facilities to be audited by a third-party observer. (Image Source: The Georgia Straight)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Live Casinos\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/live-casinos\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"BC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/20db7dec4c6b349b19992217f9a7df7d\",\"name\":\"Cort Smith\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/cort-smith-96x96.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/cort-smith-96x96.jpg\",\"caption\":\"Cort Smith\"},\"description\":\"Reporter \u2012 Sports and Sports Betting, Gaming Legislation, Global Casino Business, Canadian Gaming Industry Cort Smith joined Casino.org as a news writer in 2018. His media background began with the Global News Network in Canada, where he served as producer, reporter, and anchor between 2000 and 2016, working on national broadcasts. An avid fantasy football player, his work has also been featured on fantasy analytic sites like RotoViz.com and numberFire.com. Cort has been writing sports betting analysis for The Action Network since the 2018 NFL season kicked off as well. A passionate world traveler, he has spent extensive time in Asia, Australia, and the EU. He enjoys poker and is a hardcore Edmonton Oilers and Denver Broncos fan. Cort lives in British Columbia, where he can be found fly fishing when he\u2019s not writing and following sports.\",\"url\":\"https:\/\/www.casino.org\/news\/author\/cort-smith\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions","description":"BC casinos will now be under the watchful eye of a third-party auditor, as provincial regulators look to crack down on criminals who launder money through provincial gaming floors.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"BC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions","og_description":"BC casinos will now be under the watchful eye of a third-party auditor, as provincial regulators look to crack down on criminals who launder money through provincial gaming floors.","og_url":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2018-10-25T22:30:56+00:00","article_modified_time":"2018-10-25T21:55:14+00:00","og_image":[{"width":1200,"height":781,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/parq_vancouver_main.jpg","type":"image\/jpeg"}],"author":"Cort Smith","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Cort Smith","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/","url":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/","name":"BC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/parq_vancouver_main.jpg","datePublished":"2018-10-25T22:30:56+00:00","dateModified":"2018-10-25T21:55:14+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/20db7dec4c6b349b19992217f9a7df7d"},"description":"BC casinos will now be under the watchful eye of a third-party auditor, as provincial regulators look to crack down on criminals who launder money through provincial gaming floors.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/parq_vancouver_main.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/parq_vancouver_main.jpg","width":1200,"height":781,"caption":"Vancouver\u2019s new Parq Casino will be one of three facilities to be audited by a third-party observer. (Image Source: The Georgia Straight)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/bc-casinos-will-bring-in-cash-babysitters-to-oversee-large-cash-transactions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"Live Casinos","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/live-casinos\/"},{"@type":"ListItem","position":4,"name":"BC Casinos Will Bring in Cash Babysitters to Oversee Large Cash Transactions"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/20db7dec4c6b349b19992217f9a7df7d","name":"Cort Smith","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/cort-smith-96x96.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/cort-smith-96x96.jpg","caption":"Cort Smith"},"description":"Reporter \u2012 Sports and Sports Betting, Gaming Legislation, Global Casino Business, Canadian Gaming Industry Cort Smith joined Casino.org as a news writer in 2018. His media background began with the Global News Network in Canada, where he served as producer, reporter, and anchor between 2000 and 2016, working on national broadcasts. An avid fantasy football player, his work has also been featured on fantasy analytic sites like RotoViz.com and numberFire.com. Cort has been writing sports betting analysis for The Action Network since the 2018 NFL season kicked off as well. A passionate world traveler, he has spent extensive time in Asia, Australia, and the EU. He enjoys poker and is a hardcore Edmonton Oilers and Denver Broncos fan. Cort lives in British Columbia, where he can be found fly fishing when he\u2019s not writing and following sports.","url":"https:\/\/www.casino.org\/news\/author\/cort-smith\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/91262"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=91262"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/91262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/91263"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=91262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=91262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=91262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}