SNC case, money laundering tarnish Canada's anti-corruption rating
VANCOUVER - A lawyer for a gaming expert says a cash cap is the only way to stop money laundering at casinos in British Columbia.
Christine Mainville told a public inquiry today that money is not being laundered through casinos in any traditional sense.
Mainville is representing Robert Kroeker, who held top positions at the British Columbia Lottery Corp., the Great Canadian Gaming Corp. and with the province's civil forfeiture office.
Mainville says money laundering in casinos has been blown out of proportion and the inquiry should also look at financial institutions.
The inquiry was called by B.C.'s NDP government after three reports last year said casinos and horse racing as well as the real estate and luxury car markets had become laundromats for the proceeds of crime.
Robin McFee, counsel for lottery corporation president James Lightbody, says the organization recognized the threat of money laundering in the gaming sector, adding that Lightbody worked with law enforcement and fostered a corporate culture that promotes ethical practices.
BNN Bloomberg Picks
Millennial Money: Do you want that sweater, or are you sad?
Paying for Taco Bell with Dogecoin may soon be a reality
World's richest family reveals US$5B worth of stock picks
LinkedIn tests paid online events as potential new moneymaker
Tensions high between vaccinated and unvaccinated in Canada: Poll
Climate change ‘calling into question the very existence’ of Canada’s property, casualty insurance