Anti money laundry fine Anti money laundry fine

Ontario’s Fallsview Casino Resort, operated by MGE Niagara Entertainment Inc., is currently in the spotlight due to a significant enforcement action by the Alcohol and Gaming Commission of Ontario (AGCO). The AGCO has imposed a $70,000 fine on the casino operator for failing to comply with anti-money laundering (AML) protocols, highlighting the ongoing battle against unlawful activities within the casino industry.

Incident Leading to the Fine

The fine was levied following a particular incident where a patron, previously identified as “high risk,” was allowed to convert $80,000 in cash into casino chips and subsequently left the facility without wagering any of the chips. This cash was presented in a manner not uncommon in money laundering attempts: in a reusable grocery bag, comprised of strapped $100 bills. The casino’s failure to report this transaction to the AGCO and on-site police, along with its neglect to verify the source of the funds, triggered the regulatory action.

Casino’s Response and Industry Implications

In response to the fine, Fallsview Casino has chosen to appeal, a decision that underscores the complexities and challenges faced by the gaming industry in implementing effective AML measures. This situation not only brings to light the rigorous standards set by regulatory bodies like the AGCO but also emphasizes the critical role that casino operators play in detecting and preventing criminal activities on their premises.
The incident serves as a stark reminder of the importance of strict adherence to regulatory compliance and operational practices within the casino sector. As the appeal progresses, the outcome may have far-reaching implications for AML compliance and regulatory enforcement across the gaming industry.

Regulatory Commitment to Gaming Integrity

The AGCO’s action against Fallsview Casino reinforces its commitment to maintaining the integrity of Ontario’s gaming environment. By enforcing stringent standards, the regulatory body aims to safeguard the public interest and prevent the gaming sector from being exploited for unlawful activities, including money laundering.
As the gaming community watches the developments of Fallsview Casino’s appeal, the broader implications for AML practices and regulatory oversight within the industry remain a significant point of discussion.

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Last Updated: February 15, 2024

Erik Jensen is a seasoned gambling expert that has previous worked at one of the largest igaming companies globally. He has also extensive experience working with online casino campaigns for the biggest companies in the world. In the last 5 years Erik has solely been focusing on the Canadian market to give the best up to date news and best casino bonuses available for the Canadian casino players.

Erik Jensen
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