Auditor: Ontario Casinos Don't Vet Funding Sources

This story was published more than 1 year ago.

This week the Office of the Auditor General of Ontario issued a report that found that casinos in the province don't verify the sources of funds for large transactions.

The report was part of the 2022 Annual Report for the province and checked the casino industry for money laundering concerns. Among those investigated were the Ontario Lottery and Gaming Corporation, and the audit found that while source reporting of large-scale deposits in excess of $100,000 CAD is required, proof of the checking of the accounts wasn't. This means that the casinos were able to not check the sources and there was no way to hold them accountable.

The Office found that suspicious transaction volume was less than 1% for 19 of the 27 casinos operating in Ontario.

Another interesting insight was the lack of responsible play tools use by players. The use of limits dropped to 11% this year from 33% in 2017. The auditor also found that players who had self-excluded from the OLG gaming website were able to play at sites licensed in Ontario when the market liberalized earlier this year.

Whether or not the report will lead to any meaningful change is to be seen. Casino Listings News has been extensively following the Ontario online gaming market and will keep players abreast of regulatory changes in the province.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.