BCLC Finds Casino Money-Laundering Allegation Rather Strange
Advertisement before. The anti-money laundering director of the Corporation Lottery said that some transactions make no sense in allegations involving $ 7.5 million stolen from a trust set up to be converted into cash at a Burnaby casino before To be sent to China.
The prominent real estate lawyer, Guo Hong, claims that his Richmond corporation is a victim of conspiracy and robbery in a case related to washed funds at the Gateway Burnaby casinos. Approximately $ 7.5 million disappeared from the Guo trust fund in early 2016, with scarcity affecting many real estate transactions.
Guo sued two former employees claiming the pair conspired with accomplices to steal their trust fund account from forging Guo's name on checks. Guo alleges in his civil suit that the counterfeit checks were deposited in bank accounts controlled by former employees.
Then, bank drafts were issued from these bank accounts and deposited in accounts controlled by the suspects in the gateway casinos in Burnaby, legal documents claim Guo. Then, players use bank drafts to withdraw money from the casino, legal documents claim. Finally, the money was sent to China by the accomplices of former employees Guo Guo allegedly. Former employees have fled to China and one of them eventually received the funds, according to Guo's legal documents.
Guo's legal documents do not explain how the retired casino money in Burnaby was transferred suspiciously to China.
"It's very interesting, a casino manager said that if a person files a bank draft, they could withdraw money," Guo Postmedia said in an interview. "If this is the case, then many people will use this channel for money laundering."
In legal documents, BCLC says that none of the allegations of Guo complaint has been proven in court.
In an interview, we asked Ross Alderson, director of the BCLC fight against money laundering if debit transactions and alleged withdrawal of cash in BC Guo. Complaints from the Supreme Court indicate no vulnerability to money laundering in gateway casinos.
Alderson argued that the transactions alleged in the Guo civil suit do not seem to make sense from the point of view of a person who is trying to launder money.
Historically, Alderson said, money launderers have received money from casinos and tried to exchange funds from authorized checks to give authenticity to the funds.
"What we are talking about is an inverse of this process," he said.
“The whole idea of laundering money is to take dirty funds and turn it into clean funds, that you want put into the financial system,” Alderson said. “So by someone taking it out of the financial system and then putting it into cash or chips (in a casino), it really defeats the purpose of a money launderer. It doesn’t make a lot of sense. Because you are putting (funds) into a less-preferable method which you then have to put back into the financial system.”
B.C. casinos can only accept bank drafts from regulated North American financial institutions and only under specific circumstances, BCLC says. To be eligible to accept a bank draft in the casino, the player must have a “casino patron gaming fund account.” The casino performs due diligence during the opening of the playing account, including criminal and civil court record checks, and a review of many “open source databases,” a BCLC spokeswoman said.
NDP MLA David Eby, the NDP’s gambling critic, said he can only speculate about what alleged money launderers would hope to achieve in the casino transactions outlined in Guo’s civil filings.
“I’m not sure why a launderer would go to a casino to get cash, because if you are a launderer once you have a bank draft in hand I think you have succeeded,” Eby said. “Any bank will give you cash for that bank draft.”
"The idea of laundering money is to take the dirty money and transform it into capital, which you want to put into the financial system," Alderson said. "So if someone eliminates the financial system and puts it in cash or chips (in a casino), it really misses the purpose of a money launderer." It does not make much sense because it puts (money) into a less Preferable that it then has to put into the financial system.
Advertisement before. Casinos can only accept bank checks from regulated US financial institutions and only in special circumstances, according to the BCLC. To be eligible to accept a bank transfer at the casino, the player must have an "account of casino gambling funds funds." The casino performs due diligence for the opening game of the account, Many databases "open source" said a spokesman for the BCLC.
NDP MP David Eby, the PND critic for the game, said he could not speculate on what suspicious money launderers are left in the casino operations described in the Guo civil documents.
"I do not know why a washer would be going to a casino to get money, because if you're a launderer when you have a hand in the bank draft, I think you succeeded," Eby said. "Any bank will give you money for this bank project."
"However, if you take as a large sum $ 1 million, you may want to call the bank, and the bank will make additional calls to verify the funds," said Mr. Eby. "It's speculative, but maybe the casino has more cash."
Eby said the British Columbia government has encouraged players to transfer funds in electronic casinos or to present drafts or checks, "as it provides paper trails for anti-money laundering controls.
"So it stands to reason that casinos accept bank drafts, but if your plan is to leave the country you might not worry about the paper trail," Eby said.
Kim Marsh, the former head of the organized crime unit of the Mounted Police, now works for a private company that advises clients, including banks and casinos in money laundering and financial surveillance.
"To take casino bank drafts for high rollers, it is pretty standard. And getting a bank transfer makes it more credible because the paper path from a large local bank," he said.
Marsh said that if they wanted money launderers to get money for future transactions, it is possible that casinos can provide "a way to park money."
"Casinos are aware that people are going to want to come with the money and get a check, and create an instrument that can be easily transported," Marsh said. "It seems the opposite is true in this case. Of paper, then the casino cash, and then the paper trail ends instantly.
In an interview, Hong Guo said he does not know how former employees accused of allegedly transferred money withdrawn from a Burnaby casino in China. Guo said he was in contact with police in Zhuhai, and it is alleged that police arrested the suspects in this case. Zhuhai is a city in Guangdong Province, and the city was widely reported to have many clandestine banks with ties to Macao, a well-known neighboring district for money laundering in casinos. We asked if he had knowledge of the underground banking networks in Canada and Macao.
"No, I do not play," Guo said.
Asian experts on money laundering say that underground banks provide a way to transfer currencies between countries.
How it works in Macao underground banking is as follows: People who want to get money from China's yuan deposit with money changers in clandestine banks are usually hidden inside small convenience stores, liquor or electronics in Zhuhai. Then they receive credit forms or numeric codes from the underground bankers. Underground bankers are connected with underground bankers in other jurisdictions, such as Macau. Credit cards or numeric codes that entitle depositors to be paid out in various currencies, VIP lounges within Macao casinos.
Kim Marsh said he is aware of clandestine banking systems in Macao. He said he does not know if he banks with subway connections to casinos-have been established in BC, the goal is possible.
Said Alderson is aware of Macao's problems with clandestine banks, which purpose it has no information indicates aC-casinos have similar connections to underground banking.
When asked if the alleged Alderson was money launderers can head to BC casinos with projects from bank deposits to cash payments. Obtain if banks are perceived-has more stringent anti-money laundering controls.
"I really can not do what the way banks for due diligence can say that with a very robust procedure against money laundering casino," Alderson said.
Jessica BCLC stations the spokeswoman said that withdrawing funds and trying to withdraw money without sufficient casino game is contrary to BCLC's anti-money laundering policy.
"Casino staff are trained to look for unusual indicators, such as bank drafts that can be submitted by a third party," Gares said. "If there is concern that a bank draft is suspicious, the best additional performed due diligence is."
The prominent real estate lawyer, Guo Hong, claims that his Richmond corporation is a victim of conspiracy and robbery in a case related to washed funds at the Gateway Burnaby casinos. Approximately $ 7.5 million disappeared from the Guo trust fund in early 2016, with scarcity affecting many real estate transactions.
Guo sued two former employees claiming the pair conspired with accomplices to steal their trust fund account from forging Guo's name on checks. Guo alleges in his civil suit that the counterfeit checks were deposited in bank accounts controlled by former employees.
Then, bank drafts were issued from these bank accounts and deposited in accounts controlled by the suspects in the gateway casinos in Burnaby, legal documents claim Guo. Then, players use bank drafts to withdraw money from the casino, legal documents claim. Finally, the money was sent to China by the accomplices of former employees Guo Guo allegedly. Former employees have fled to China and one of them eventually received the funds, according to Guo's legal documents.
Guo's legal documents do not explain how the retired casino money in Burnaby was transferred suspiciously to China.
"It's very interesting, a casino manager said that if a person files a bank draft, they could withdraw money," Guo Postmedia said in an interview. "If this is the case, then many people will use this channel for money laundering."
In legal documents, BCLC says that none of the allegations of Guo complaint has been proven in court.
In an interview, we asked Ross Alderson, director of the BCLC fight against money laundering if debit transactions and alleged withdrawal of cash in BC Guo. Complaints from the Supreme Court indicate no vulnerability to money laundering in gateway casinos.
Alderson argued that the transactions alleged in the Guo civil suit do not seem to make sense from the point of view of a person who is trying to launder money.
Historically, Alderson said, money launderers have received money from casinos and tried to exchange funds from authorized checks to give authenticity to the funds.
"What we are talking about is an inverse of this process," he said.
“The whole idea of laundering money is to take dirty funds and turn it into clean funds, that you want put into the financial system,” Alderson said. “So by someone taking it out of the financial system and then putting it into cash or chips (in a casino), it really defeats the purpose of a money launderer. It doesn’t make a lot of sense. Because you are putting (funds) into a less-preferable method which you then have to put back into the financial system.”
B.C. casinos can only accept bank drafts from regulated North American financial institutions and only under specific circumstances, BCLC says. To be eligible to accept a bank draft in the casino, the player must have a “casino patron gaming fund account.” The casino performs due diligence during the opening of the playing account, including criminal and civil court record checks, and a review of many “open source databases,” a BCLC spokeswoman said.
NDP MLA David Eby, the NDP’s gambling critic, said he can only speculate about what alleged money launderers would hope to achieve in the casino transactions outlined in Guo’s civil filings.
“I’m not sure why a launderer would go to a casino to get cash, because if you are a launderer once you have a bank draft in hand I think you have succeeded,” Eby said. “Any bank will give you cash for that bank draft.”
"The idea of laundering money is to take the dirty money and transform it into capital, which you want to put into the financial system," Alderson said. "So if someone eliminates the financial system and puts it in cash or chips (in a casino), it really misses the purpose of a money launderer." It does not make much sense because it puts (money) into a less Preferable that it then has to put into the financial system.
Advertisement before. Casinos can only accept bank checks from regulated US financial institutions and only in special circumstances, according to the BCLC. To be eligible to accept a bank transfer at the casino, the player must have an "account of casino gambling funds funds." The casino performs due diligence for the opening game of the account, Many databases "open source" said a spokesman for the BCLC.
NDP MP David Eby, the PND critic for the game, said he could not speculate on what suspicious money launderers are left in the casino operations described in the Guo civil documents.
"I do not know why a washer would be going to a casino to get money, because if you're a launderer when you have a hand in the bank draft, I think you succeeded," Eby said. "Any bank will give you money for this bank project."
"However, if you take as a large sum $ 1 million, you may want to call the bank, and the bank will make additional calls to verify the funds," said Mr. Eby. "It's speculative, but maybe the casino has more cash."
Eby said the British Columbia government has encouraged players to transfer funds in electronic casinos or to present drafts or checks, "as it provides paper trails for anti-money laundering controls.
"So it stands to reason that casinos accept bank drafts, but if your plan is to leave the country you might not worry about the paper trail," Eby said.
Kim Marsh, the former head of the organized crime unit of the Mounted Police, now works for a private company that advises clients, including banks and casinos in money laundering and financial surveillance.
"To take casino bank drafts for high rollers, it is pretty standard. And getting a bank transfer makes it more credible because the paper path from a large local bank," he said.
Marsh said that if they wanted money launderers to get money for future transactions, it is possible that casinos can provide "a way to park money."
"Casinos are aware that people are going to want to come with the money and get a check, and create an instrument that can be easily transported," Marsh said. "It seems the opposite is true in this case. Of paper, then the casino cash, and then the paper trail ends instantly.
In an interview, Hong Guo said he does not know how former employees accused of allegedly transferred money withdrawn from a Burnaby casino in China. Guo said he was in contact with police in Zhuhai, and it is alleged that police arrested the suspects in this case. Zhuhai is a city in Guangdong Province, and the city was widely reported to have many clandestine banks with ties to Macao, a well-known neighboring district for money laundering in casinos. We asked if he had knowledge of the underground banking networks in Canada and Macao.
"No, I do not play," Guo said.
Asian experts on money laundering say that underground banks provide a way to transfer currencies between countries.
How it works in Macao underground banking is as follows: People who want to get money from China's yuan deposit with money changers in clandestine banks are usually hidden inside small convenience stores, liquor or electronics in Zhuhai. Then they receive credit forms or numeric codes from the underground bankers. Underground bankers are connected with underground bankers in other jurisdictions, such as Macau. Credit cards or numeric codes that entitle depositors to be paid out in various currencies, VIP lounges within Macao casinos.
Kim Marsh said he is aware of clandestine banking systems in Macao. He said he does not know if he banks with subway connections to casinos-have been established in BC, the goal is possible.
Said Alderson is aware of Macao's problems with clandestine banks, which purpose it has no information indicates aC-casinos have similar connections to underground banking.
When asked if the alleged Alderson was money launderers can head to BC casinos with projects from bank deposits to cash payments. Obtain if banks are perceived-has more stringent anti-money laundering controls.
"I really can not do what the way banks for due diligence can say that with a very robust procedure against money laundering casino," Alderson said.
Jessica BCLC stations the spokeswoman said that withdrawing funds and trying to withdraw money without sufficient casino game is contrary to BCLC's anti-money laundering policy.
"Casino staff are trained to look for unusual indicators, such as bank drafts that can be submitted by a third party," Gares said. "If there is concern that a bank draft is suspicious, the best additional performed due diligence is."
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