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Victoria Refusing to Back Casinos Over Money Laundering Concerns
Money laundering is the issue that won’t go away for British Columbia, and there is no hiding from the facts. This is a problem that needs to be addressed and sorted out, and there are a lot of things that can be done to improve the state of gambling in the province. But, it is clear that many people and establishments are still feeling the after effects of some of the money laundering revelations of this year.
Whatever the reasons, and we’re sure there are several, the Mayor has put forward a letter to retract the city’s interest in hosting a casino. This could well prove to be a financial blow for Victoria, and it remains to be seen how much potential damage this may do to the city’s finances. But, Helps certainly feels she is making the right choice here, and that this can have a big impact on the battle against money laundering.
It could well be the case that Victoria will want a seat at the table later down the line, if they can be assured that the right action will be taken to combat money laundering. Indeed, Victoria has requested more information on money laundering prevention in casinos, and perhaps this is to help them feel more comfortable with the idea of allowing a casino. Until the city is satisfied with the steps that are going to be taken, it seems unlikely that there will be a new casino development in Victoria.