🔥 How criminals used Canada's casinos to launder millions | Canada | The Guardian

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Even though the practice has been around for centuries and has gotten increasingly complex, there are still just three basic steps that criminals.


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CROWN CASINO FOOTAGE

Ashifa Kassam in Toronto.

The impacts of the Vancouver model — as the scheme came to be known — is linked to the opioid crisis and unaffordable real estate market.

From there, any gambling losses flow into provincial coffers, while winnings come out clean.

In exchange, they transferred money from their bank account in China to another account in China. Surveillance videos then showed the individuals trading in the cash for casino chips. In his report, German suggested that infighting among the provincial agencies responsible for regulating gambling may have left casinos vulnerable to exploitation by criminal organisations from China, Colombia, Mexico and other countries.

That model remains in use today. Still, the impacts of this cash flow — much of it linked to criminal organisations — are believed to have been felt across money laundering at casinos province.

This article is more than 1 year old. Before traveling to Canada, ostensibly to gamble, these individuals would arrange to have someone deliver cash to them in Vancouver or the surrounding regions.

The stacks of neatly bundled cash are used to buy casino chips. Using the Vancouver model, criminals would show up at a Canada casino and receive a delivery of cash, then use it for gambling.

Others used hockey bags to haul the cash. These efforts have sent suspicious transactions at casinos plummeting fold sinceaccording to government estimates. The practice is believed to have started money laundering at casinos — around the same time that provincial authorities turned over the policing of casinos to local police — reaching its apex in In a statement link the Guardian, the BC Liberal caucus defended its actions.

Published on Mon 15 Oct

A report by Transparency International Canada found that nearly half of the most expensive homes in Vancouver were bought using shell companies, trusts or nominees — structures that can be used to conceal the true identity of homeowners. German shied away from blaming the gamblers at the heart of the scheme.