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Recent Arrest in Richmond Suggest Money Laundering Alive & Well
Money laundering is the big black mark that has stayed looming over the Canadian gambling industry. The spectre in the sky. The skeleton in the closet that just won’t go away, and, well, it really hasn’t. These days it seems like every week we are reading details of somebody’s great plans to combat the spread and influence of money laundering in Canada, and every week we have some other news story that shows this hasn’t happened.
It is clear that this man was planning to engage in some sort of illegal or criminal activity, but how far the rabbit hole goes is anyone’s guess. This is hardly the first incident in B.C. to involve the possibility of money laundering, and a damning report last year suggested that more than C$2 billion in dirty money had been flowing through casinos in British Columbia.
Money laundering is not an issue that is restricted solely to casinos, but there is a definite casino problem that needs to be addressed. And, by cutting off the head of the snake, it is much easier to stop the spread of money laundering beyond the scale we have already seen.