A Niagara Falls casino operator is under scrutiny, facing a hefty fine of $70,000 CAD after reportedly violating the province's regulations designed to combat money laundering activities within their establishment, as per a statement from the Alcohol and Gaming Commission of Ontario.
The commission claims that Fallsview Casino Resort permitted a high-risk player to exchange $80,000 in $100 bills directly from a grocery bag without notifying the AGCO or law enforcement about this significant cash transaction, which took place in the casino's exclusive Salone Privé in April 2023, according to the press release.
The AGCO oversees the regulation of alcohol, gaming, horse racing, cannabis, and the sports betting sector throughout the province.Ontario online casino Moreover, the casino operator failed to investigate the origins of the patron's funds, a requirement stipulated by AGCO's anti-money laundering regulations. This negligence resulted in the substantial fine imposed by the province's gaming regulatory authority, as outlined in the announcement.
In a statement on their official website, Fallsview Casino indicated that they plan to contest the AGCO's ruling. release on the AGCO website , issued Wednesday.
AGCO Confirms Statutory Violations by Ontario Casino
According to the AGCO announcement, MGE Niagara Entertainment Inc., which operates the casino, breached two specific regulations (the province offers both brick-and-mortar and online casino options). The first violation refers to standard 6.1.5, which mandates the reporting of any suspicious activities, cheating, or illegal conduct as per the established reporting matrix.
The second infraction relates to standard 6.3.2, which requires casinos to verify the source of a customer's funds. The release from the department elaborates on this requirement: 'Operators must create and enforce policies, procedures, and controls to determine when and how they will verify and reasonably confirm a patron's financial sources based on risk assessments.'real money casino app Ontario In the statement, Dr. Karin Schnarr, the AGCO’s CEO and registrar, criticized the Niagara Falls casino for not meeting the province's standards on money laundering prevention and for permitting such conduct to occur.
‘The AGCO is dedicated to safeguarding public interest and safety, ensuring active measures against potential money laundering in Ontario’s gaming venues,’ Schnarr remarked. ‘Casino operators play a crucial role as front-line partners in this endeavor, and the AGCO enforces stringent standards to prevent illegal activities.’
The release also included a statement asserting, 'After reviewing the AGCO's decision, we respectfully disagree. Fallsview Casino Resort prides itself on being a law-abiding and responsible entity. We are determined to appeal this ruling and are eager to present our case.'
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