British Columbia clamps down on money laundering with new Gaming Control Act

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British Columbia government. British Columbia clamps down on money laundering with new Gaming Control Act

British Columbia has introduced a brand new Gaming Management Act for 2026, searching for to clamp down on cash laundering and fraud.

Coming into impact on April 13, 2026, British Columbia’s Gaming Management Act will replace the present regulatory framework and introduce new laws for the playing business, with a selected give attention to illegal activities like money laundering and fraud. The act was handed again in 2022, sparked by a have to extra successfully tackle cash laundering and off the again of two suggestions from unbiased evaluations.

These recommendations, coming from the German Report and Cullen Fee, included the creation of an unbiased playing regulator, clarifying the separate roles of the regulator and the BC Lottery Company, creating standards-based laws, placing cash laundering underneath the duty of the regulator, and giving the regulator the ability to difficulty directives with out the consent of the minister.

“Cash laundering is a critical difficulty in our province and throughout the nation, and powerful oversight is required to stop it,” mentioned Nina Krieger, Minister of Public Security and Solicitor Basic. “The brand new act creates a robust regulatory framework in order that the Unbiased Playing Management Workplace, our new unbiased regulator, can extra successfully tackle legal exercise and defend individuals in B.C.”

Primarily based on the suggestions and fashionable playing regulation steering, the Gaming Management Act incorporates insurance policies designed to discourage cash laundering, foster accountable playing, and make sure the playing sector adheres to each new and outdated laws.

The primary steps to tackling cash laundering in British Columbia

In addition to the steps laid out above, the Gaming Coverage and Enforcement Department (GPEB) will transition to an unbiased playing management workplace. The brand new workplace may have the duty of regulatory oversight of playing performed and managed by the BCLC, charitable playing, and the horse-racing business.

Particularly, the workplace will implement new necessities that can assist to detect and stop problem gambling and unlawful actions like cash laundering throughout the business.

ReadWrite has reached out to British Columbia’s Ministry of Public Security and Solicitor Basic for remark.

Featured picture: Flickr, licensed underneath CC BY-NC-SA 2.0

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