A Niagara Falls, Ont., casino was fined $70,000 by the Ontario’s Alcohol and Gaming Commission for a breach of anti-money laundering rules.
In a release, the Alcohol and Gaming Commission of Ontario (AGCO) said operators of Fallsview Casino failed to corroborate where funds from a patron came from after a patron presented $80,000 in $100 bills from a grocery bag to a table at the venue last April.
“Surveillance showed that once the money was counted and confirmed, the patron left the table with casino chips without playing at that time,” the AGCO said in a statement.
“Despite having previously identified the player as ‘high risk,’ the casino failed to notify the AGCO and on-site police of this transaction as required.”
Under provincial anti-money laundering rules, venues are required to take “meaningful steps” to ascertain where a given patron’s source of funds comes from, as set out in Ontario’s Gaming Control Act.
MGE Niagara Entertainment Inc., which runs Fallsview, is accused of failing to report suspicious behaviour and implementing controls to corroborate a patron’s funds.
“Casino operators are important front-line partners in this effort and the AGCO holds all operators to rigorous standards when it comes to the prevention of unlawful activity,” said Karin Schnarr, the AGCO’s CEO and registrar.
The casino can appeal the ruling through a tribunal.
Global News has reached to Fallsview Casino and MGE for comment.