It is true that Peter Kappel was only recently appointed at his new position as the British Columbia Lottery Corporation’s (BCLC) Board Chair, but he has already projected that the Kamloops-situated headquarters of the Crown corporation is to see a major overhaul in terms of its downtown location.
The new Board Chair of the Canadian Crown corporation, which offers various gambling products in the region, shared that something is very likely to be done in terms of the currently-used building, as reported by Kamloops This Week (KTW). Mr. Kappel, however, revealed that the overhaul could involve only an improvement or an establishment of a new building but said he had still not been sure what the final decision would be. The BLCL Chair shared that the corporation’s headquarters is expected not to be moved to another location.
Mr. Kappel explained that for the time being there is no need for the Crown corporation to move its headquarters to another location, especially considering the fact that it is working as a well-oiled machine, with its employees also being satisfied and productive at this point. He further explained that the BCLC is acting as a representative of its shareholder, so the corporation is set to make sure that the entire structure functions appropriately.
Anti-Money Laundering Policies’ Report Expected
The beginning of June saw the British Columbia Lottery Corporation appoint Peter Kappel as its new Board Chair who took over the position as of May 31st. Mr. Kappel has been brought to the corporation to replace former Kamloops MLA Bud Smith who had been on the same position for half a decade. Now, Mr. Kappels heads the company’s board which supervises and has a strategic role.
As mentioned above, the newly-appointed Board Chair revealed that the corporation was functioning perfectly, with its employees being very productive. However, considering the widely-discussed issues related to money laundering, Mr. Kappel explained that the organization will have to be given some time to take into consideration a special report from Peter German, who is set to carry out a research on the British Columbia Lower Mainland casinos’ policies related to money-laundering. The report is set to cast more light on the question is there a connection between the proceeds and other sectors of the local economy and if there is one, to what extent.
According to media reports, the 250-page report of Peter German includes almost 50 major recommendations on the matter, which are set to be addressed by the BCLC.
Apart from that, as far as the organization’s anti-money laundering software system, which is worth CA$7.3-million, is concerned, the new Board Chair of the BCLC confessed that he was aware of the problem but he was still not familiar with the situation in detail. The system, which was set to dispose of the manual search for risky gamblers and large money transactions, has not been working properly and allegedly let some illegal activities in the region proceed unrestrained.