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Gamblers must disclose source of large fund buy-ins

BCLC expands source of Funds Procedures in B.C. gambling facilities
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The British Columbia Lottery Corporation (BCLC) has implemented the first of Peter German’s interim recommendations, through new procedures requiring Service Providers, including the Billy Barker Casino, to gather detailed information on the source of player funds for all transactions of $10,000 or more.

All cash and bank draft/certified cheque buy-ins for $10,000 or more, in one or more transactions within a 24-hour period, will require a source of funds receipt.

The original receipt must be from the same day of the transaction and show the financial institution, branch number and account number. This information will be required before a customer is allowed to buy in and will be reviewed daily by BCLC’s AML unit.

The casino service providers’ registered gaming worker conducting the transaction at the cash cage will be required to certify that he or she received a source of funds declaration directly from the customer, and completely and accurately recorded that information.

In addition, the customer will be required to sign the source of funds declaration form.

If a customer does not provide the required information, provides information that is suspicious or refuses to sign the source of funds declaration, service providers must refuse the transaction, document the refusal, and notify BCLC, which will trigger an investigation.