Canadian Authorities To Deliver A Blow To Gambling Industry?

It appears probable that the Canadian government will employ unexpected tactics to limit the operations of online gambling in the country in 2014. As per Jim Flaherty, the finance minister of Canada, the government intends to allocate more resources to combat money laundering and illicit financing associated with terrorism. This implies that a series of legislative amendments will probably be put into effect. In the public budget report of this year, Flaherty acknowledges the plan to include online gambling establishments in the roster of organizations regulated by the anti-money laundering agency.

Despite the absence of specific details provided by Flaherty regarding the proposed measures, it seems that the ruling conservative party is committed to taking forceful actions against online gambling companies by subjecting them to rigorous regulations. Consequently, authorities aim to oblige these companies to report any doubtful transactions to the regulatory agency, adhere to the same accounting guidelines applied to most physical businesses, and ensure comprehensive verification of player accounts.