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.
Drop a comment
Previous Comments
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
Latest News
- Shifting all casinos on-shore in 3 years; Goans to be debarred: Parrikar
- Satish Sonak, saviour of the downtrodden, is no more
- BJP complains, police file FIR against Congman Girish, media also ‘indicted’
- The chronology of events, as told by Faleiro, of how Vijai ditched them
- ECI not happy with liquor check, tightens Casino monitoring
- Goa poll possibly by mid-Feb, NRIs could hopefully vote from abroad
- Walking not to win Election; the People: Girish Chodankar
- Cong releases 25-point chargesheet on BJP
- AAP focusing on mining, casinos and out-migration
- ISL sold FC Goa stakes to casino king Mody
Tourism
- Shifting all casinos on-shore in 3 years; Goans to be debarred: Parrikar
- Throw out Lamanis to protect Goenkarponn: Babu
- Shack owners threaten to show black flags to PM
- Cabral shifts hot air baloon to his constituency in South Goa
- Russians voted from Goa for Parliamentary poll
- Sunburn to shift from Goa to Mumbai or Delhi?
- Goa to find legal course to debar foreigners from running business
- Not Goa, TN is favourite destination of foreigners
- Ravi seeks ban on Nigerians, calls them Negroes
- Kejri makes BJP leaders fight over drug trade of Goa