River Rock Casino Resort Destroyed Significant Financial Records
The major drama is shaking the River Rock Casino Resort. Reportedly, in western Canada, early last year the operator being River Rock Casino Resort was warned that some of the casino’s employees might have tempered with financial records and destroyed the evidence that has been linked to the significant cash transaction.
This organization may take a considerable hit and jeopardize its business. However, to broaden our investigation, this is the data we managed to encounter.
The notification came during the meeting
The last Wednesday, Global Television Network reported that Great Canadian Gaming Corporation is aware of the shredding allegations through a meeting with the British Columbia Lottery Corporation, which was held on April 21, 2017.
The news outlet reported that regulators had requested an urgent meeting with the Great Canadian Corporation, making their agenda to discuss large transactions that have been happening in the district of British Columba. They suspect that casinos located in this area are used to launder millions of dollars in illicit money.
If these allegations are proven to be true, then casinos in British Columbia are facing significant consequences.
Transactions so far
Global Television Network announced that Robert Kroeker, who is the Corporate Security Vice-President for the British Columbia Lottery Corporation, used this meeting to inform the operators that he discovered a common practice in Vancouver-area, were employees of the casinos destroy records connected with large transactions.
Based on the federal laws, casinos in the country must report all combined transactions from any gambler, if they go over $10,000. This rule applies to the 24-hour period. The federal anti-money laundering agency uses this information to spot any suspicious transactions, and take actions if the laws are being broken.
The violated practice
However, Global Television Network said that Kroeker has allegedly notified Great Canadian Gaming Corporation of the supposed practice of shredding financial records and that the rules and guidelines of the Financial Transaction and Report Analysis Center of Canada have been broken, even though the amounts were below $10,000.
For example, the broadcaster reported that a VIP player could have deposited $9,000 with the casino at 4 am, and then return an hour later when all the transaction data have been destroyed, to store the same amount again. In this case, the player will have chips worth $18,000 without being any paper record of a transaction.
On the other hand, high-value players might have escaped this examination. According to data Kroeker provided he suspects that VIP players might have avoided the inspection from the Financial Transactions and Reports Analysis Centre of Canada, due to a shredding of the records.