Ontario’s Fallsview Casino to Appeal $70K Fine for Money Laundering

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Posted on: January 26, 2024, 10:12h. 

Last updated on: January 27, 2024, 11:27h.

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Fallsview Casino Resort successful Ontario tells Casino.org that it “respectfully disagrees” pinch nan Alcohol and Gaming Commission of Ontario’s (AGCO) determination to good nan gaming spot for allegedly violating money laundering regulations.

Fallsview Casino Ontario money launderingThe Fallsview Casino Resort overlooks Niagara Falls. The casino operated by Mohegan is dismissing allegations from Ontario’s gaming regulator that it grounded to protect its gaming level from money laundering crimes. (Image: Niagara Falls Hotels)

The AGCO this week levied a C$70,000 (US$52,039) good against nan Fallsview Casino. That’s aft nan provincial gaming regulator concluded that nan casino grounded to meet regulatory conditions successful spot to minimize nan consequence of unlawful activity connected its gaming floor, specifically money laundering.

The regulatory cited an incident successful April 2023 involving a patron entering nan Salon Privé casino pinch C$80,000 successful rate stuffed successful a reusable market bag. The rate was reportedly each CA$100 bills.

Surveillance video showed nan personification exchanging nan rate for gaming chips astatine a array crippled earlier leaving without gambling. Fallsview unit identified nan personification arsenic “high risk” but reportedly grounded to notify nan AGCO and on-site constabulary astir nan transaction arsenic required by Ontario anti-money laundering rules.

The casino usability besides grounded to return immoderate meaningful steps to ascertain and corroborate nan patron’s root of funds, arsenic is required by anti-money laundering rules group retired successful nan Registrar’s Standards for Gaming,” nan AGCO connection explained.

“The prevention of unlawful activities astatine Ontario’s gaming sites is simply a cardinal privilege for the AGCO. Casino operators person an important domiciled to play and must return steps to efficaciously place and forestall criminal activity from occurring connected their gaming sites,” nan merchandise added.

Fallsview Rejects Allegations

Fallsview Casino Resort emailed Casino.org a connection rebuffing nan AGCO allegations. Fallsview is owned by nan Ontario Lottery and Gaming Corporation (OLG). Its operations are leased to Mohegan, nan gaming entity of nan Mohegan Tribe of Connecticut.

As a responsible gaming operator, Fallsview Casino Resort is dedicated to identifying and preventing unlawful activities. Our institution has a civilization and history of integrity and transparency, and a longstanding committedness to compliance successful Ontario,” nan Fallsview connection read.

The casino said it “will beryllium appealing” nan AGCO punishment and looks guardant “to presenting our case.”

Mohegan acquired nan operating rights to Fallsview and Casino Niagara successful 2019 aft nan OLGC decided to waste disconnected nan management. Terms of nan woody weren’t disclosed. But Mohegan pledged to put “several 100 million” into nan properties.

Provincial Crackdown

After casinos were allowed to reopen successful Ontario successful July 2021, nan authorities of Canada’s astir populous state announced caller initiatives to amended combat money laundering schemes. The AGCO formed a task force to show ample rate transactions astatine provincial casinos.

The AGCO said it expected a unreserved of illicit activities aft casinos and different places criminals effort and usage to launder soiled cash were closed because of nan COVID-19 pandemic.

“The COVID-19 pandemic, and associated closures and beingness distancing measures, has disrupted immoderate money laundering methods — peculiarly those that trust connected nan placement of illicit rate into cash-intensive businesses,” a July 2020 study from nan Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) read.

The AGCO task unit has been moving pinch nan Ontario Provincial Police and OLG to supervise rate transactions astatine nan province’s casinos.

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