Results of Loto-Québec Audit Released

The official lottery of the Canadian province of Quebec, Loto-Québec, has welcomed the findings of an independent audit looking into money laundering in Quebec gambling halls and casinos. Representatives from the lottery claimed that the company is already implementing measures to tackle any potential criminal activity in its services.

The Château Frontenac overlooking Quebec City in Canada.

Quebec’s lottery system, Loto-Québec, has welcomed the findings of an independent audit investigating potential cases of money laundering in Quebec gambling halls and casinos. ©Aurusdorus/Pixabay

Loto-Québec Has Already Begun Implementing Audit Recommendations

The state-run lottery of the Canadian province of Quebec, Loto-Québec, has released a statement in which it welcomed the results of an independent audit which looked into money laundering in casinos and gaming halls in the province. It also added that it has already begun to implement the audit’s recommendations.

The focus of the independent audit was on the presence of money laundering and extortionate loans in Québec casinos and gaming halls, as well as loyalty programs and employee security.

In a shared statement, Loto-Québec President and CEO Jean-François Bergeron clarified that a lot of what the independent audit recommended should be done by the lottery to further prevent criminal activity in its services is already in the process of being implemented.

“We recognize that the fight against money laundering is a constant challenge, and we are pleased to note that several recommendations that emerge from the audit relate to measures already in place or in the process of being.”

Bergeron went on to give some examples of how Loto-Québec is taking the audit’s directions in earnest:

“For example, we will automate our systems to target practices that may turn out to be questionable. We will also continue our collaboration with the various stakeholders involved in the fight against money laundering.”

Finally, Loto-Québec emphasized that it would continue to search for the “best practices” available to combat money laundering, while reminding observers that it had offered its full cooperation throughout the audit.

No Major Bombshells After Loto-Québec Audit

No major revelations or controversies emerged from the independent audit into money laundering in Quebec gambling halls and casinos. It found that none of Loto-Québec’s employees had been compromised in any way and that staff were well aware of the laws regarding financial crime, as well as how to resist criminal activity.

Chairman of the Loto-Québec board of directors, Hélène F. Fortin, made a point to note how the audit report commended the lottery’s efforts thus far, before reaffirming the company’s commitment to continue working on best practices.

“The Board of Directors is reassured to note that the report recognizes the excellent record of implementing the measures and the recommended improvements. They will ensure that the organization maintains its efforts and will continue to promote the use of best practices in terms of integrity in the Company’s establishments.”Hélène F. Fortin, Chairman of the Board of Directors, Loto-Québec

IBIA Recently Ranked Canada Low on Regulated Markets List

In what might come as surprising news to some, the International Betting Integrity Association (IBIA), in close collaboration with H2 Gambling Capital, published a report which analyzes regulated iGaming markets worldwide, in which Canada was ranked 19th of the 20 countries which were evaluated. Meanwhile, the U.S. states of Nevada and New Jersey ranked among the best regulated online gambling markets worldwide.

The IBIA’s report ranked 20 different regulatory online gambling markets in view of five distinct criteria: regulation, tax, product availability, integrity and marketing. It simultaneously put forward a general overview of the global betting market and revealed the annual costs caused by match-fixing.

Despite its low ranking on the list, Canada’s gambling scene was one of five markets which was granted a provisional score by the International Betting Integrity Association (IBIA). This was due to the fact that the country’s gambling system may soon be undergoing some major regulatory changes.

Canada Edges Closer to Legalizing Single-Event Sports Betting

Single-event sports betting in Canada, currently outlawed, now edges ever closer to becoming fully legalized, after a bill concerning the issue was given its third reading in the country’s Senate in late June 2021.

With sports betting in Canada currently only legal if the bet is on three or more events at once, Bill C-218 seeks to amend Canada’s Criminal Code with regards to the law. After passing its second reading in February 2021, the British Columbia Lottery Corporation (BCLC) lobbied the Senate earlier this month to pass the bill before summer recess, which begins on June 26th, 2021 and ends on September 20th.

It was first introduced in April 2020, when Members of Parliament Brian Masse and Kevin Waugh first introduced the Safe and Regulated Sports Betting Act. Canadians can only bet on sports through a parlay betting system organized through local lotteries, in which several individual bets are lumped into one single bet.

With the assumption being that betting on single events may jeopardize the integrity of a game, the Canadian Gaming Association has estimated that $14 billion is therefore wagered through offshore gambling sites.

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A magnifying glass zooming in on a table of numbers as part of an audit.

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