Audit criticizes BCLC on large cash transaction reporting
13 Sep 2013
The audit found the BCLC shoud have been reporting smaller repeat transactions that add up to $10,000 in a 24-hour-period, the CBC report said.
The BCLC requested clarification on the Fintrac rules of reporting smaller transactions in a 24-hour-period that then add up to the required threshold to file a report, the CBC report said.
The cash transaction reporting rules exist to alert police to criminal activity and to protect against casinos being used to launder money.