Over the last week officials from the United States Treasury Department have been in Chile to work with its casino regulatory body on technical criteria and enforcement methods to prevent money laundering. In an unprecedented move in the gaming industry, the US Treasury is actively collaborating with the Superintendence of Casinos (SJC) in Chile with an International Technical Assistance Programme that will evaluate the suitability of people involved in applications for casino licences.

Last May Chile commenced its policy of installing, administrating and exploiting the casino market with 17 new licences around the regions of Chile, with a maximum of 3 licences per region and none in metropolitan Santiago. The first stage of submitting proposals for the licences was completed in early July, and the deadline for applications with concrete project plans was 4 August. It is now up to the SJC to select the successful bids from the 48 potential investors.

The SJC has been given exceptional powers to act under concern for public order and state security, and is working on two fronts to authorise the 17 new casino licences. Its first concern is to ensure that the companies that have entered the bidding process comply with all the legal requirements of their constitution. The second line of investigation is the analysis of all data on everyone associated with the bidding companies. This includes personal and commercial activities, tax and legal records. When the successful bids have been declared, the SJC will then undertake rigorous searches to trace the origins of the capital to be invested.

The Superintendent of the SJC, Francisco Leiva, has indicated that the technical assistance offered by the US will permit Chile to capitalize on the experience gained by that country in the prevention of money laundering. It will also ensure that the SJC can direct a properly regulated gaming industry that has no connection with organized crime. The work begun last week is the start of the qualification process in assessing the applications for casino licences, and the SJC has been given the power to gain access to information from all institutions in Chile. (E-09.19.05)

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