BC Casino Money Laundering Inquiry: Politicians Failed, But No Corruption

The result of a 1,800-page report investigating money laundering at casinos in British Columbia found no evidence of political corruption, however it did produce 101 recommendations to counter the laundering of illegal funds in the province.

Hundreds of Millions of dollars were laundered in the province from around 2010 to 2016, and among the findings of the Cullen Commission, led by former BC Supreme Court Justice Austin Cullen, is the recommendation of establishing a new anti-money laundering czar to provide strategic oversight of the provincial response to money laundering. (Image: 1uprankings) The findings of the Cullen Commission were published Wednesday.

Hundreds of Millions Washed

The commission set up to investigate the period between 2015 to 2017 during which a gargantuan sum of money derived from criminal activities were laundered through B.C.’s real estate, casino, and luxury vehicle markets is now revealed with its conclusion. The primary aim of the investigation was to graduate responsibility for the skyrocketing home prices and worsening opioid crisis stemming from this money laundering. The inquiry, under the lead of Commissioner Austin Cullen, led to the uncovering of the failure from countless government officials to act and fully solve the problem which they were accountable for. Nonetheless, there was no evidence to support any intensity with any corrupt deeds related to the gambling sector.

AML Czar stated that conjecture regarding the possibility of money laundering in casinos being facilitated by corrupt politicians or officials is not grounded in evidence.

AML Czar

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Cullen argued that money laundering had been overlooked due to there being no dedicated ministerial responsibility, and so recommended the formation of an independent Anti-Money Laundering (AML) Commissioner for the province. His findings indicated that both the BCLC and law enforcement had knowledge of the issue but had not taken sufficient action. To address the issue, Cullen proposed the creation of “a dedicated provincial money laundering intelligence and investigation unit with a robust intelligence division.” Additionally, he put forward the proposal of reducing the current $10,000 threshold for proof of customers’ sources of finances to $3,000. Finally, Cullen adopted a firm stance, noting that “money laundering has at its origin, crime that destroys communities, such as drug trafficking, human trafficking, and fraud; crimes which victimize the most vulnerable members of society.”

Law-abiding citizens who earn their money legally and contribute to the costs of living in the community are offended by money laundering, as it goes against their principles.