The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed a CAD 1,175,000 administrative monetary penalty on the Saskatchewan Indian Gaming Authority (SIGA) following a compliance examination, citing non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. The cited violations include failing to submit suspicious transaction reports when there were reasonable grounds to suspect money laundering or terrorist activity financing, submitting suspicious transaction reports without the prescribed information, and failing to develop and apply written compliance policies and procedures that are kept up to date and approved by a senior officer. The penalty was imposed on 28 August 2025, and SIGA operates seven casinos in Saskatchewan.
Financial Transactions and Reports Analysis Centre of Canada 2025-09-12
Financial Transactions and Reports Analysis Centre of Canada imposes CAD 1.175 million administrative monetary penalty on Saskatchewan Indian Gaming Authority for AML compliance failures
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 1,175,000 penalty on the Saskatchewan Indian Gaming Authority for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included inadequate suspicious transaction reporting and failure to maintain updated compliance policies. The penalty was issued on 28 August 2025.