Not all casinos are washing machines

According to the Vancouver Sun, “casino security are in a conflict of interest when it comes to money laundering.” They go on to say that the government responsible for enforcing the law are also in a conflict, since the reason they allow casinos is to fatten the provincial coffers.

My experience is the opposite as most of the casinos I’ve worked with have put systems in place to make sure that governmental money laundering watchdogs receive comprehensive information regarding possible money laundering. The systems also make you uncomfortable as a potential money launderer. My concern is that these watchdogs and not the casinos don’t have the manpower to deal with the information they receive.

Most problems have simple answers. In the case of “how to prevent money laundering“, we need to apply – “What you can’t measure you can’t manage”. In a day and age where business is highly measurable, casinos and governments should not have this problem.

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