The operator of Fallsview Casino Resort failed to verify the source of funds after a customer brought in $80,000 in a recyclable bag. (Image: Shutterstock.com)
MGE Niagara Entertainment Inc. must pay a fine of $70,000 CAD ($51,800) for failing to screen an individual who brought $80,000 CAD ($59,200) in cash to a casino.
he presented the money in $100 bills inside a recyclable bag
Last April, the person entered the Fallsview Casino Resort in Canada and went to Salon Privé where he presented the money in $100 bills inside a recyclable bag. According to the surveillance, once the money was counted and confirmed, the customer left with the casino chips without playing.
The Alcohol and Gaming Commission of Ontario (AGCO) has issued a fine to the casino operator for failing to comply with anti-money laundering (AML) requirements.
According to the commission, although the individual had been labeled “high risk”, the police on site and the AGCO had not been informed of the transaction. According to anti-money laundering regulations, the operator was required to verify the origin of the person’s funds; however, this was not done.
TVC reported that “billions of dollars” are laundered through Canadian casinos.