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British Columbia Stopping Money Laundering through Casinos

Countries around the world take a stance on gambling. Some to the extremes of blocking apps and others trying to find the criminals using casinos inappropriately. Asia, Russia, Eastern Europe, and Western Europe have all launched campaigns to stop illegal dealings. Some countries are targeting money laundering, while others focus on banning illegal forms of gaming.

British Columbia is seeking to correct a situation they feel is way out of hand. They asked voters for their stance and got a reply. Voters are willing to support an inquiry into the gambling and money laundering issue.

Canadian authorities stated they are seeking $56,415.00 in casino chips.

The Money Laundering Issue

British Columbia has a high rate of money laundering through casinos, recently that police are attempting to stop. The casino chips in question, were taken from a Chinese high roller. This high roller is allegedly involved in a $1.4 million US fraud case.

The lawsuit was filed by the director of civil forfeiture on June 13, 2018. The target was the casino chips that the Canada Border Services Agency seized from an Australian-Chinese VIP. Dan Bai Shun Jin had his chips confiscated in May. Jin was also arrested at the River Rock Casino in Richmond, BC. The arrest occurred on May 25th. The arrest was made due to warrants against him from the US.

The US issued the warrants due to bad checks amounting to $1.4 million that he wrote to Las Vegas casinos. Jin is suspected of money laundering. It was also discovered that Jin is named in Australian cases that have to do with criminal proceedings. It seems documents link him to some illegal importation, about $20K of US goods into Canada.

The lawsuit says the chips need to stay in British Columbia and will be used to prove there was a case of unlawful activity. There are questions as to how Jin was able to get so many casino chips because it does not seem the alleged money launderer has legitimate income sufficient enough to obtain the chips he had.

The defendant is going to be deported to the US for the warrants that he was arrested on. The Australian Federal Police and US Internal Revenue Service will be investigating all facets of the case to determine if he really has the income or if his gambling activity has left him broke. Jin says he has a salary akin to $300k in China, but there is no proof.

Mike Johnson

Mike made his mark on the industry at a young age as a consultant to companies that would grow to become regulators. Now he dedicates his week days to his new project a the lead editor of GamblingNews.com, aiming to educate the masses on the latest developments in the gambling circuit.