BUSINESS

BC Lottery Corporation fined over money laundering

TAGs: money laundering, playnow

BCLC-Money-LaunderingThe truly inept fashion in which British Columbia Lottery Corp. has rolled out its online gambling operation almost makes one suspect that it’s a staged ‘designed to fail’ scheme to deter any American state from going down that same road. To begin with, the PlayNow site crashed on its first day in use, exposing user data to unknown eyes in the process, and it’s still not back up and running almost a week after the fact.

Now it’s revealed that a federal auditing agency has fined BCLC $670K for over 1,000 irregularities in financial reporting. Some of you might remember that Calvin Ayre related how he didn’t believe money laundering was a real concern in the online gambling industry. BC Lottery’s situation might seem to contradict that, but then again, their ‘irregularities’ are related to land-based casino transactions. For another thing, when Calvin still ran the Bodog-branded sites, they actually stayed up and running, so clearly we’re talking apples and oranges here. Read more.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com