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At an event Wednesday to release the report, Eby said money laundering in casinos was linked to the opioid crisis that has claimed thousands of lives and to escalating housing prices that have made life unaffordable for British Columbians.

“There is little that is obvious about the nefarious tactics about money laundering. However, I believe the only way to combat money laundering is to tackle it full on, bring the public along in full view so they understand the work and consequences of failing to take action, as well as the costs of taking action,” said Eby.

Photo by Nick Procaylo / PNG

The review by German, who is also a lawyer and author of the definitive textbook Proceeds of Crime and Money Laundering, was not intended to be a fault-finding exercise.

Asked whether senior executives such as the B.C. Lotteries Corp. CEO should be held accountable for not doing more to prevent money laundering, Eby said he puts responsibility on the former B.C. Liberal government.

German recommended creating an independent regulator of the casino industry similar to the Alcohol and Gaming Commission of Ontario, and a specialized police force dedicated to gambling that has a 24/7 presence at casinos.

The current regulator, the gaming policy and enforcement branch, is within the Minister of Finance and is restricted in what it can do on money laundering. It has no power over the B.C. Lotteries Corp., which has responsibility for casinos. BCLC, to some extent, also acts as a regulator and that is not an ideal situation, said German.

The recommendations would also put more responsibility on casino operators, recommending they report directly on suspicious transactions to the federal Financial and Transaction Reports Analysis Centre (better known as Fintrac) rather than to the B.C. Lotteries Corp.

German also recommends putting more authority and responsibility for casinos to know their gamblers.

The B.C. government said Wednesday it has already adopted nine of German’s 48 recommendations. Those include requiring casino patrons show the source of cash and cash equivalents of $10,000 or more and putting regulators in large casinos in the Lower Mainland around the clock.