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B.C. casinos see dollar value of suspicious transactions triple

5 January 2011

B.C., Canada -- A spike in multi-million dollar transactions has led to suspicions of money laundering in BC casinos, CBC News reported.

In one example uncovered by the CBC News investigation, a man entered a New Westminster casino with $1.2 million in chips and converted them to cash, asking staff to write a letter stating it was a casino payout because he was catching a plane.

Some casinos interviewed said it was not unusual for local business people to come to the casino with large volumes of cash and refused to characterize the behaviour as obviously suspicious, CBC News said.

Reports filed to a federal money-laundering watchdog showed suspicious transactions have tripled in dollar value in B.C. where other provinces have not seen an increase, CBC News reported.

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