Recently, two former RCMP officials sent a message to Ontario to conduct a thorough investigation into hundreds of millions of dollars in shady cash transactions at casinos. According to recent reports, despite suspicious transactions and measures to launder money, casinos in Ontario are still seeing large amounts of such remittances.
Not long ago, the state of Ontario implemented a new provision requiring casinos to track customers with transactions of more than C$3,000 and determine the source of cash, while also being vigilant about possible money laundering. The rules went into effect in early 2022, but still saw an increase in questionable cash transactions in the state during that year.
Carl Crusty, a former RCMP investigator and involved in money laundering and transnational investigations, shared his expertise in the matter. He speculates that large amounts of cash were illegally acquired in many cases. He noted that while the numbers are significant, we won’t know until all transactions are fully investigated by the investigation.
One of the deals includes Branavan Kanapathipillai earning more than C$4 million over the years. He made a large cash purchase at Pickering Casino Resort in 2022, reported by employees. Mr Kanapathipillai also made 10 transactions in the range of C$50,000 to C$100,000, but the source of the cash was unknown, which was unusual.
BC also had to deal with suspicious cash transactions. The Cullen Commission’s 2022 investigative report into money laundering activities at local casinos has been released to the public. We have concluded that money laundering has reached extremely high levels due to ineffective efforts by the RCMP, politicians and regulators. But we found no evidence of corruption.
Peter German, a former RCMP deputy director who wrote a report on BC’s casinos with recommendations, said he could not draw conclusions about Ontario based on raw figures. But he said a lot can be seen by looking at the funds in the big picture. He explained that there may be over-reporting and under-reporting of suspicious transactions, and that regulators should follow up.
He also said potential money laundering should be viewed as more than just a financial crime. He said this was due to a false advantage that could empower criminals, such as drug dealers and other agencies that could threaten national security. He believes it is not enough to receive a suspicious transaction report and then take no action.
Finally, Mr. Crusty said, this is the case with B.C., and that it is the straw man’s mindset. He claimed that everyone would send a report on the suspicious deal and that people like him would be overwhelmed by the volume and would not see 99% of the deal.
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