Money Laundering in British Columbia Casinos
By Garry Smith How to cite: Smith G. (2019). Money Laundering in British Columbia Casinos. Critical Gambling Studies . https://doi.org/10.29173/cgs12 The Issue For the past decade Vancouver casinos have been a haven for loan sharks and money launderers seeking to camouflage and exploit the proceeds of drug trafficking. These activities have made Vancouver casinos a cesspool of financial crime. High rolling Chinese organized crime members were recruited in Macau casinos to gamble in Vancouver. Millions of dollars from illegal drug sales in China were first deposited into illegal Canadian banks, then later retrieved by gang members to gamble in lower mainland British Columbia casinos. Preferring to play baccarat in exclusive VIP rooms with a maximum wager of $100,000; win or lose, after cashing out, ‘dirty’ drug money is converted into ‘deodorized’ untraceable casino chips. An estimated $2 billion in ill-gotten gains was washed through Vancouver gambling outlets (much of it in...