Regulatory Alerts2026-03-26
FINTRAC imposes an administrative monetary penalty on Northern Isga Foundation
FINTRAC imposed a $91,162.50 administrative monetary penalty on the Northern Isga Foundation for operating the Eagle River Casino and Travel Plaza following a compliance examination that uncovered multiple regulatory breaches. The organization failed to develop and maintain updated written compliance policies, document risk assessments, implement ongoing staff training programs, and conduct biennial reviews of its anti-money laundering framework. This enforcement action mandates strict adherence to Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, reinforcing FINTRAC’s oversight of the casino sector to safeguard Canada’s financial system.
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