Some data related to Ontario casinos revealed last week as Ontario casinos reportedly recorded suspicious transactions of more than C$372 million in 2022. The news sparked some alerts among critics who say local governments need to address the issue immediately to prevent dirty money in the local and regulatory gambling sector.
Land-based gaming properties in Ontario recorded about C$372 million in questionable transactions in 2022, according to a recent request for free information released by a local media outlet. The figure is significantly lower in 2020 and 2021 when casinos are briefly closed, but about CA$38 million higher than pre-shutdown operations.
Christine Wongtam, the attorney general’s NDP critic, argues that trading volume is the state’s main alarm and that more needs to be done to address the problem. One such transaction includes more than C$4 million in cases made by Branavan Canapatipilai over several years. He made a large cash purchase at Pickering Casino Resort in 2022, which was reported by employees.
Canapathipilai reportedly made 10 transactions in the range of C$50,000 to C$100,000. However, the source of the cash is unknown, and it was unusual for an individual to have such a large amount of cash. But despite the suspicious amount, the casino still accepted the money. The same has happened in at least three other casinos since 2016.
In response, Kanapathipilai explained that the money was from a third mortgage, but did not appear in court last week to restate the money. Meanwhile, Ontario gambling officials said the case was a sign that a system set up to monitor suspicious cash transactions was working and that law enforcement was allowing the money to be tracked.
An Ontario Alcohol and Gaming Commission spokesman said the matter was the result of an investigation conducted by the AGCO-based OPP Bureau of Investigation and Enforcement. The representative said the Police Department, which as a built-in agency specializes in money laundering and related investigations, is unique to the state compared to other jurisdictions in Canada. 우리카지노탑
This is not the first time a potential casino-wide money laundering issue has been raised. In December 2022, Bonnie Lysick’s auditor issued a report advising Ontario Lottery and gaming companies on doubling their efforts to address money laundering. She said the amount was relatively low but varied across different sites.
In addition, in her report, she found that online sports betting is thriving on OLG’s online platform. However, most players have not taken advantage of many responsible gambling features, such as time and spending restrictions. The use of the player casino loss limiter decreased from 33% of active players in June 2017 to 11% of active players in June 2022.