New gambling control office coming to British Columbia
The gambling landscape in British Columbia could be in for quite a big change in the near future. That’s because the provincial government is seeking to increase the independence of how gambling is regulated and monitored in the province. If a proposed amendment to the Gaming Control Act of Canada passes, The Gaming Policy and Enforcement Branch would end up becoming the independent Gambling Control Office. The reason behind this switch would be to help minimize the possibility of money laundering in what are termed vulnerable areas in British Columbia. This move would give the former branch of enforcement more independence to achieve its goals and operate. The control office that would be created would handle the horse racing industry, local gambling and gambling addiction measures within British Columbia.
Money laundering is an ongoing problem
You may not think so, but money laundering and gambling in Canada is an ongoing problem that the government continues to fight. A recent report revealed that nationally, a whopping CAD $46.7 billion was washed via money laundering just in 2018. In terms of provinces, British Columbia ranked third with CAD $6.3 billion washed in 2018, behind only Alberta and Ontario.
The report, called Dirty Money, was released in summer of 2018 by former RCMP Deputy Commissioner Peter German. The idea is that, at least locally, the government of British Columbia is seeking to try to combat the practice as much as possible.
David Eby, the Attorney General of the province, said that 2021 would end up being a milestone for British Columbia, as the spring of that year is when the transition is expected to be done. He said that years of change in the marketplace have rendered the Gaming Policy and Enforcement Branch unable to complete its main task up to snuff.
The idea when it was created was to monitor the British Columbia Lottery Corporation, preventing it from breaching any regulations and allowing money laundering to happen. Up to this point, its main goal has been taking care of gaming regulations as well as monitoring the local gambling environment. Want to get in on the gambling action? Check out the provider below.
What the new board will do
The Dirty Money report outlined what German said was a clear conflict of interest that needed to be eradicated soon if British Columbia and other provinces wanted to optimize the gambling field. It also facilitated criminal activities among Asian high rollers as well as loan sharks, which provided them the ability to gamble at casinos throughout British Columbia.
The transition to the newly-created Independent Gambling Control Office would ultimately streamline the operation of monitoring and enforcement. Eby said he believed the decision to make this change would have a huge positive impact on local gambling, leading in time to a reliable industry around gambling. The new agency would be as transparent as possible throughout all of its dealings.
Among the recommendations made by German in his report was creating this new office, which would monitor the BCLC. That organization brought in roughly CAD $1.4 billion over fiscal year 2018-2019, and the independent office that’s going to be created will in part monitor each and every one of their moves closely. To try your hand at gambling now, visit one of the casino below.