British Columbia criminal lawyer Dr. Gary Botting tells The Lawyer’s Daily that new rules introduced in that province to counteract potential money laundering in the gaming sector make good “common sense.”

The new provisions, which came into force Jan. 10, mean that provincial gaming service providers (GSPs) are required to complete a source of funds declaration — including at least the customer’s identification and the source of their funds — for cash deposits or bearer monetary instruments of $10,000 or more, says the article.

“If a customer does not provide the information required, provides information that is considered suspicious, or fails to sign the source of funds declaration, the GSP must refuse the transaction and the British Columbia Lottery Corporation (BCLC) will undertake an investigation,” it says.

Botting, principal of Gary N.A. Botting, Barrister and Solicitor, says the $10,000 limit “sounds reasonable and matches other similar benchmarks designed to slow the filtration of suspect money in other professions that routinely handle money, including banks, credit companies and lawyers.

The change in the rules follows a report that pointed to a number of suspicious transactions at a casino in the province’s Lower Mainland.

“In July 2016, accounting firm MNP LLP found approximately $13.5 million in $20 bills was accepted" at a B.C. casino, with concerns being raised the money came from organized crime, says the article. “The government appointed former RCMP deputy commissioner Peter German in late September to conduct a review of the province’s anti-money laundering policies and practices in the gaming industry. His final report is expected to be released in March,” it says.