The operator of Pickering Casino Resort, located at the intersection of Church Street and Bayly Street in Pickering, is under scrutiny after receiving a substantial fine for failing to report suspicious activities that could indicate money laundering. The Alcohol and Gaming Commission of Ontario (AGCO) conducted an audit and found that Great Canadian Entertainment, the company managing the casino, did not properly assess and track high-risk patrons.
This failure to comply with enhanced scrutiny measures led to a $170,000 penalty. The audit revealed that mandatory suspicious transaction reports were not filed in several cases where patrons exhibited potential signs of money laundering. The AGCO has given Great Canadian Entertainment 15 days to appeal the decision. The company has not yet responded to requests for comment from the media.
Key Takeaways
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Pickering Casino Resort fined $170,000 for compliance failures.
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AGCO audit identified lapses in tracking high-risk patrons.
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Great Canadian Entertainment has 15 days to appeal the fine.
Read More
https://www.ullaw.ca/news/pickering-casino-money-laundering-fine
