Casino operators deny terrorist funding

PTI, PANAJI | 27 January 2012 19:39 IST

The casino operators in Goa today refuted the suggestion that casinos could be acting as fronts for money-laundering or for funding the terrorists.

The operators, at a joint press conference here, said the annual report by Financial Intelligence Unit (FIU) of Union Finance Ministry had been misquoted in this regard.

Shrinivas Nayak of Casino Pride said the trade had always been wary of dubious-looking transactions, and the authorities were kept in the loop about anything fishy.

In the last one year, as many as 50 dubious transactions were reported to FIU by the casinos in Goa, he said.

"FIU, in the annual report, has said that there are 8,000 financial transactions at various industries which were of suspicious nature," he said.

John Snowball, vice president (gaming and operation), Casino Crown, said casino would be the last place the people would turn to for money laundering or terror financing.

"Everyone entering is under CCTV surveillance. Every transaction is recorded," Snowball said.

"There are guidelines which say that transaction above a certain limit needs to be reported to FIU.

But that does not mean that the money is ill-gotten or being funded to terrorist organisation.

Genuineness of the source of money is always found out by the authorities." Nayak admitted that fake currency had been an issue at the casinos.

"People are trying to push fake currency everywhere. It's the problem of whole country," he said.

Staff was trained to prevent this, according to casino representatives.

"There were instances where people tried to push in fake notes, but we caught them and handed them over to police," Nayhak said.

Goa has around 20 casinos at present. is now on Telegram & also Youtube. Kindly subscribe for free & remain updated.

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I don't really see what all the fuss is about with regard to casinos laundering money for terrorists. This illegal process stems from the very top, including corrupt politicians who are on the payroll of all illegal activities. So as long as voters keep voting for people who everyone knows owns millions, we will continue to live in a society where corruption is alive and well. So don't target casinos, go for the jugular and focus on the politicians who tolerate such fraud. Casinos generate a lot of revenue for the state so let's not kill the golden goose. It's the controllers of these golden geese that must be targetted. Just a thought!

- Chris, Australia | 28 th January 2012 19:33


When " Kali" camt to King Parikshit and requested some small place to stay, King Parikshit gave him the place of Gambling den as one of the place to stay. A gambling den is a place like Casino where gambling activity goes on. Where gambling goes on--can one expect something sacred going on?

- vishwas prabhudesai, loliem | 28 th January 2012 11:08


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