British Columbia: Scathing report highlights multiple failings that led to laundering of hundreds of millions of dollars

British Columbia: Scathing report highlights multiple failings that led to laundering of hundreds of millions of dollars

Article brief provided by CTV News
  • Shannon Paterson, CTV News
June 15, 2022 7:05 PM
  • Shannon Paterson, CTV News

An 1,800 page report commissioned by the provincial government has found hundreds of millions of dollars of cash was laundered through B.C. casinos between 2008 and 2018.

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The report by Austin Cullen, released Tuesday, is the result of 133 days of hearings, where the Commission of Inquiry into Money Laundering in British Columbia heard testimony from 199 witnesses.

Cullen was highly critical of the B.C. Lottery Corporation and several provincial ministers responsible for gaming for not doing enough to stop the rampant money laundering, which he says was happening in plain sight.

“In 2014 alone, British Columbia casinos accepted nearly $1.2 billion in cash transactions of $10,000 or more, including 1,881 individual cash buy-ins of $100,000 or more – an average of more than five per day,” the report said.